§ 17-6. Life estates, remainders, and reversions.

(a) Valuation of life estate.

The value of life estates subject to the tax levied and imposed by this subtitle shall be determined in the same manner as the value of life estates are determined from time to time, for federal estate tax purposes under the Internal Revenue Code and regulations promulgated thereunder.

(b) Valuation of remainders and reversions.

The remainders and reversions after a life estate or life estates shall be valued by determining the value of the whole and deducting therefrom the value of the preceding estates determined as aforesaid.