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Estate taxes paid to state
originally posted: 11/22/2006
reposted: 2/18/2011 This post has not been recently
reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email asktony@tonynovak.com.
Q:
If I do not have to pay an estate tax to the federal government, does that mean I will not owe estate taxes to my state?
A:
No. A growing number (23 at last count) of states are "uncoupling" their estate tax so that the basis and calculation of the tax is entirely different from the federal system. The states have no intention of abolishing estate taxes and may, in fact, raise estate tax rates as federal estate taxes decline.
Summary
More resources:
www.wealthmanangement.us.com
