Don't Just Worry About Federal Estate Taxes

Many states have their own estate tax laws that youOklahoma and Oregon.The maximum rate varies, but
need to worry about. With the current law phasing outis usually around 16%. Federally, you can recieve a
the estate tax over the next few years, the state'sdeduction on your federal estate-tax liability based on
are beginning to feel the pinch of having less federalthe amount of estate tax paid to the state.Don't just
estate-tax revenue coming in.Several states, especiallyassume that since the federal estate tax is phasing
those with budget issues, are levying some forms ofout for a few years that you are out of the way.
estate and inheritance tax on their own.Twenty-fourEstate taxes vary from state to state.This leaves
states and Washington, D.C. now have an estate ormany people needing to think over where they choose
inheritance tax. Some of these laws are new, someto retire. Many states are starting to feel the pain of
are not.Although the current federal law exempts thethis as well, with several repealing their estate-tax laws
first $2 million of an estate's worth, the threshold into discourage high-income residents from leaving. For
some states is much lower. With a home, a retirementexample, Oklahoma will be eliminating its estate tax
account and other investments, many estates easilyover a three-year period.Martin Lukac represents and
become taxed by the state.For example, in Newa finance web-company specializing in real estate and
Jersey, estates worth over $675,000 are subject tomortgage rates. We specialize in daily updates,
some form of state inheritance or estate tax.Themortgage news, rate predictions, mortgage rates and
threshold is $1 million in D.C., Kansas, Main, Maryland,more. Find low home loan mortgage interest rates
Massachusetts, Minnesota, Nebraska, New York,from hundreds of mortgage companies!