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Estate Tax Information
2006 Tax Year
| Estates & Trusts (Form 1041): |
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Taxable Income
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The Tax Is:
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Of The Amount Over
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$0 - $2,050
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15% minus 0
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= Tax
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$2,051 - 4,850
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25% minus 205
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= Tax
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$4,851 - $7,400
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28% minus 350.50
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= Tax
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$7,401 - $10,050
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33% minus 720.50
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= Tax
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$10,051 and over
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35% minus 0
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= Tax
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| Estates & Gift Taxes (Forms 706 and 709) |
| For gifts made and estates of descendants dying in 2006 |
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If Taxable Estate Is:
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TAX
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Over
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But Not Under
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The Tax Is:
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$0
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$10,000
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18% minus 0
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= Tax
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10,000
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20,000
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20% minus 200
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= Tax
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20,000
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40,000
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22% minus 600
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= Tax
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40,000
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60,000
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24% minus 1,400
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= Tax
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60,000
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80,000
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26% minus 2,600
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= Tax
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80,000
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100,000
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28% minus 4,200
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= Tax
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100,000
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150,000
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30% minus 6,200
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= Tax
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150,000
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250,000
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32% minus 9,200
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= Tax
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250,000
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500,000
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34% minus 14,200
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= Tax
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500,000
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750,000
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37% minus 29,200
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= Tax
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750,000
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1,000,000
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39% minus 44,200
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= Tax
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1,000,000
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1,250,000
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41% minus 64,200
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= Tax
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1,250,000
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1,500,000
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43% minus 89,200
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= Tax
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1,500,000
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2,000,000
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45% minus 119,200
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= Tax
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2,000,000
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and over
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46% minus 139,200
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= Tax
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| 2006 Exclusion Amounts |
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Estate Tax Exclusion
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Gift Tax Exclusion
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Annual Gift Exclusion
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$2,000,000
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$1,000,000
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$12,000
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Top
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