RSSEstate tax rate to be set at 45%
From: The Washington Times | December 4, 2009
House Democrats passed a freeze of the estate tax Thursday, making permanent the 45 percent rate on inheritances of more than $3.5 million and undoing part of President George W. Bush's cuts that would have temporarily eliminated the tax next year. The measure would prevent the estate tax from expiring Dec. 31 and returning in 2011 at a 55 percent rate, a mechanism of the Bush tax cuts that gradually reduced the rate since 2001. Estates under $3.5 million are exempt for individuals and up to $7 million for married couples, leaving about 1 percent of all estates vulnerable to ...
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