STATE DEATH (ESTATE) TAX RATES

This chart summarizes the estate tax laws of the 20 states that currently impose an estate tax.  Included are the exemptions, top rate, and computations of tax liability for estates of $1M, $1.1M, $3M, $5M and $10M.

COMPARISON OF STATE ESTATE TAXES (as of December, 2011)
Note: Some states have different rates for various classes of beneficiaries.  This chart assume all wealth passes to children.
EXEMPTION $1M $1.1M $3M $5M $10M Top Rate*
CT 2,000,000 0 0 72,000 229,800 736,800 12%
DE 3,500,000 0 0 0 391,600 1,067,600 16%
DC 1,000,000 0 38,800 182,000 391,600 1,067,600 16%
HI 3,500,000 0 0 0 391,600 1,067,600 16%
IL 2,000,000 0 0 167,279 352,158 926,923 15.2%
IN 2,000,000 42,500 52,250 232,250 432,250 932,250 10%
ME 1,000,000 0 38,800 182,000 391,600 1,067,600 16%
MD 1,000,000 0 0 182,000 391,600 1,067,600 16%
MA 1,000,000 0 38,800 182,000 391,600 1,067,600 16%
MN 1,000,000 0 38,800 182,000 391,600 1,067,600 16%
NC 5,000,000 0 0 0 0 1,067,600 16%
NJ 675,000 33,200 38,800 182,000 391,600 1,067,600 16%
NY 1,000,000 0 38,800 182,000 391,600 1,067,600 16%
OH 338,333 44,700 51,700 184,700 324,700 674,700 7%
OR (2012) 1,000,000 0 10,000 205,000 425,000 1,102,500 16%
OR (2011) 1,000,000 0 38,800 182,000 391,600 1,067,600 16%
PA none 45,000 49,500 135,000 225,000 450,000 4.5%
RI 859,350 33,200 38,800 182,000 391,600 1,067,600 16%
TN 1,000,000 0 6,100 178,400 368,400 843,400 9.50%
VT 2,750,000 0 0 112,500 391,600 1,067,600 16%
WA 2,000,000 0 0 100,000 390,000 1,255,000 19%

* “Top Rate” means the marginal rate on each dollar in excess of $10M, except that the threshold is actually $10.1M for states showing a marginal rate of 16%.

One thought on “STATE DEATH (ESTATE) TAX RATES

  1. Pingback: Estate Planning, Estate Tax Rates Slated to Change in 2013 – AARP Bulletin | Dallas Estate Attorney

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