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