Keep this chart handy for the annual estate-planning limits for 2009 and 2010. Read more about the federal estate tax here. Learn if your state has an additional estate tax with this map.2010 estate and gift tax limitsAnnual gift tax exclusion:$13,000Lifetime gift tax exclusion:$1 millionFederal estate tax exclusion:RepealedGeneration skipping:RepealedMaximum gift and estate tax rate:Gift tax only, equal to top individual income tax rate2009 estate and gift tax limitsAnnual gift tax exclusion:$13,000Lifetime gift tax exclusion:$1 millionFederal estate tax exclusion:$3.5 millionGeneration skipping:$3.5 millionMaximum gift and estate tax rate:45 percentNote: Unless Congress takes action, the federal estate tax and generation skipping tax rates are scheduled to fall to zero percent in 2010, and in 2011 to revert to a top rate of 55 percent. The applicable exclusion amount will revert to $1 million from $3.5 million.« Back to the "Estate planning" table of contents Create a news alert for "taxes" advertisementRelated Links:Tax-favored bonds get second look6 benefits that help you save cashTax due on jointly held savings bonds?Related Articles:Map of state estate taxesEstate-planning Q&AMinimum payment opt-out?
Keep this chart handy for the annual estate-planning limits for 2009 and 2010. Read more about the federal estate tax here. Learn if your state has an additional estate tax with this map.
Note: Unless Congress takes action, the federal estate tax and generation skipping tax rates are scheduled to fall to zero percent in 2010, and in 2011 to revert to a top rate of 55 percent. The applicable exclusion amount will revert to $1 million from $3.5 million.
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Create a news alert for "taxes"