Estate & Gift Tax Rules
|
Year
|
Estate/GST Exemption
|
Top Estate Rate
|
Gift Tax Exemption
|
| 2004 |
$1.5 million |
48% |
$1.0 million |
| 2005 |
$1.5 million |
47% |
$1.0 million |
| 2006 |
$2.0 million |
46% |
$1.0 million |
| 2007 |
$2.0 million |
45% |
$1.0 million |
| 2008 |
$2.0 million |
45% |
$1.0 million |
| 2009 |
$3.5 million |
45% |
$1.0 million |
| 2010 |
Tax repealed |
n/a |
$1.0 million |
| 2011? |
$1.0 million? |
55%? |
$1.0 million |
|
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Note: The federal estate tax returns to its pre-EGTRRA form in 2011...unless Congress and the President agree to make it permanent before January 1, 2011.
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