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Elder Law of Louisville's Blog

Monday, February 7, 2011

An Historical Perspective on the Estate Tax

In a compromise between the Republicans in Congress and President Obama, the federal estate tax has been set for the next two years to apply only on those estate larger than $5 million and beginning at a 35% rate.  This is the lowest rate since the estate tax was instituted.  In recent years, the limits and rates were as follows:

Year                       Tax Threshold                   Highest Rate

1975 $60,000                                 77%

1980 $400,000                              70%

1985 $600,000                              55%

1990 $600,000                              55%

1995 $600,000                              55%

2000 $675,000                              55%

2005 $1,500,000                           47%

2010 Choice of 2011 rates or no tax.  (2011 tax structure has capital gains tax advantages.)

2011 $5,000,000                           35%


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The attorneys of Elder Law of Louisville (formerly Walsh & Wilson, PLLC) assist clients in Louisville, Kentucky and surrounding counties of Jefferson, Oldham, Shelby, Spencer, and Bullitt. Our Office also serves Southern Indiana and the towns of New Albany, Jeffersonville, and Clarksville.



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