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Taxable Estate or Total Taxable Gifts Tax |
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Over $1,000,000...... Over $1,250,000...... Over $1,500,000...... Over $2,000,000...... Over $2,500,000...... Over $3,000,000...... |
$ 345,800, plus 41% of excess $ 448,300, plus 43% of excess $ 555,800, plus 45% of excess $ 780,800, plus 49% of excess $ 1,025,800, plus 53% of excess $ 1,290,800, plus 55% of excess |
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PHASED-IN CREDITS AND EXCLUSION AMOUNTS |
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| Old Law (which returns 2011) | ||||||
| Year | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 |
|
Applicable
Exclusion Amount |
675,000 | 700,000 | 700,000 | 850,000 | 950,000 | 1,000,000 |
| Credit | 220,550 | 229,800 | 229,800 | 287,300 | 326,300 | 345,800 |
| New Law of 2001 | ||||||||||||
| Year | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 |
| Estate tax exemption (millions) | .675 | 1.0 | 1.0 | 1.5 | 1.5 | 2.0 | 2.0 | 2.0 | 3.5 | repealed | 1.0 | 1.0 |
| Maximum Rate | .55 | .50 | .49 | .48 | .47 | .46 | .45 | .45 | .45 | .55 | .55 | |
|
Gift
tax exemption (millions) |
.675 | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 |
| Maximum rate | .55 | .50 | .49 | .48 | .47 | .46 | .45 | .45 | .45 | max inc. tax rate | .55 | .55 |
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