FORESTRY UPDATE by Gary Allen Burns 3-2

The federal estate tax exclusion for 2016 is $5.45 million. Estates appraised under this exclusion are not subject to federal estate taxes, and a federal estate tax return is not required. Estates over the $5.45 million exclusion must file Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return. The taxable estate (after deductions, exclusions, credits and expenses) is subject to a 40 percent estate tax.

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