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Estate Tax & The American Taxpayer Relief Act of 2012 | Taxation Brief

Estate Tax & The American Taxpayer Relief Act of 2012

Cook & Cook:

The federal estate tax, which was scheduled to apply to estates in excess of $1 million at a rate of 55% beginning in 2013, will be permanently modified so as to apply to estates in excess of $5,000,000 — indexed for inflation — at a rate of 40%. The $5,000,000 exemption continues the tax policy created under the Tax Relief Act, however, the 40% rate is an increase from the 35% rate under the Tax Relief Act.