• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar

Law Office of James Zakasky

An estate attorney who goes beyond drafting wills and creating trusts

Click to Call: (707) 595-1148
Click to Contact
  • Home
  • Practice Areas
    • Estate Plan
    • Probate
  • Videos
  • About Us
  • FAQ’s
  • Testimonials
  • Blog
  • Free Info
  • Contact

Does your State have an Inheritance or Estate Tax?

August 15, 2019 by James Zakasky

Does your State have an Inheritance or Estate Tax?

Fifteen States and the district of Columbia have an Estate Tax, and six states have an inheritance tax. If you live in Maryland and New Jersey you are levied with three forms of death tax, Federal, State Estate and State Inheritance…Ouch!

State Estate Tax                                  Over                            Percentage Tax

Washington                                         2.054 Mil                           10-20%

Oregon                                                1 Mil                                   1-16%

Hawaii                                                 5.43 Mil                            .8-16%

Minnesota                                           1.4 Mil                                9-16%

Illinois                                                 4 Mil                                  .8-16%

Tennessee                                            5 Mil                                  5.5-9.5%

New York                                            3.125 Mil                           3.06-16%

Massachusetts                                     1.0 Mil                                  .8-16%

Rhode Island                                       1.5 Mil                                  .8-16%

Connecticut                                         2.0 Mil                                 7.2-12%

Delaware                                            5.43 Mil                                .8-16%

District of Columbia                          5.43 Mil                                .8-16%

State Inheritance Tax – No Exemption Amount

Nebraska                                                                                             1-18%

Iowa                                                                                                    0-15%

Kentucky                                                                                              0-16%

Pennsylvania                                                                                       0-15%

State Estate and Inheritance Tax

Over                %Estate        %Inheritance

Maryland                                            1.5 mil             16%                   0-10%

New Jersey                                          675K              .8-16%               0-16%

Inheritance, State and Federal Death Taxes are incredibly expensive to administer and have resulted in lower family business continuation and jobs.

For More Information:

https://taxfoundation.org/

  • About
  • Latest Posts
Follow me
James Zakasky
An estate attorney who goes beyond drafting wills and creating trusts.
Managing Partner
Law Office of James A. Zakasky
50 Old Courthouse Square, Suite 605 Santa Rosa, Ca 95404
Follow me
Latest posts by James Zakasky (see all)
  • Guardianship - November 22, 2019
  • Understanding Basis and Why it is important to you and your Family? - August 29, 2019
  • What Is Probate & Why Is It Important? - August 15, 2019

About James Zakasky

An estate attorney who goes beyond drafting wills and creating trusts.
Managing Partner
Law Office of James A. Zakasky
50 Old Courthouse Square, Suite 605 Santa Rosa, Ca 95404

Primary Sidebar

Categories

Search this site

Copyright ©2020 · James Zakasky Law - All Rights Reserved