Estate Tax
A Federal Estate Tax is imposed on the transfer
of the taxable estate of
every deceased person who is a citizen or resident of the U.S.
Each person has a Unified
Credit of $192,800 that will reduce the amount of the estate or
gift tax due. This is the
equivalent of having $600,000 of assets which will not be
subject to the Federal Estate
Tax, assuming the credit has not been used against taxable
gifts during the person's life.
Tax rates for deaths and gifts occurring in 1995.
IF
TAXABLE ESTATE
IS FROM: |
TO: |
TENTATIVE
TAX IS: |
OF AMOUNT OVER: |
| |
|
|
|
$0 |
$10,000 |
$0 +
18% |
$0 |
10,000 |
20,000 |
1,800 +
20% |
10,000 |
20,000 |
40,000 |
3,800 + 22%
|
20,000 |
40,000 |
60,000 |
8,200 +
24% |
40,000 |
60,000 |
80,000 |
13,000 +
26% |
60,000 |
80,000 |
100,000 |
18,200 +
28% |
80,000 |
100,000 |
150,000 |
23,800 +
30% |
100,000 |
| |
|
|
|
150,000 |
250,000 |
38,800 +
32% |
150,000 |
250,000 |
500,000 |
70,800 +
34% |
250,000 |
500,000 |
750,000 |
155,800 +
37% |
500,000 |
750,000 |
1,000,000 |
248,300 +
39% |
750,000 |
1,000,000 |
1,250,000 |
345,800 +
41% |
1,000,000 |
| |
|
|
|
1,250,000 |
1,500,000 |
448,300 +
43% |
1,250,000 |
1,500,000 |
2,000,000 |
555,800 +
45% |
1,500,000 |
2,000,000 |
2,500,000 |
780,800 +
49% |
2,000,000 |
| |
|
|
|
2,500,000 |
3,000,000 |
1,025,800 +
53% |
2,500,000 |
3,000,000 |
------- |
1,290,800 +
55% |
3,000,000 |
|
