NOTE This information is out of date. See our information on exemptions for gifts and estate planning and personal income tax rates in 2010.
| Rate | Joint | Single |
|---|---|---|
| 10% | 0-$16,700 | 0-$8,350 |
| 15% | $16,701-67,900 | $8,351-33,950 |
| 25% | $67,901-137,050 | $33,951-82,250 |
| 28% | $137,051-208,850 | $82,251-171,550 |
| 33% | $208,851-372,950 | $171,551-372,950 |
| 35% | $372,951 + | $372,951 + |
| Notes: $3,650 is the annual personal exemption. The standard deductable for couples is $11,400 and for an individual is $5,700. | ||
| Taxable Estate | Estate Tax | Marginal Rate or Excess |
|---|---|---|
| $100,000 | $23,000 | 0.30 |
| $150,000 | $38,800 | 0.32 |
| $250,000 | $70,800 | 0.34 |
| $500,000 | $155,800 | 0.37 |
| $750,000 | $248,300 | 0.39 |
| $1,000,000 | $345,800 | 0.41 |
| $1,250,000 | $448,300 | 0.43 |
| $1,500,000 | $555,800 | 0.45 |
| $2,000,000 | $780,800 | 0.45 |
| $3,500,000 | $1,455,800 | 0.45 |
| Notes: The annual gift tax exclusion is $13,000 per donor per recipient, and the lifetime gift tax exclusion is $1,000,000 per person. There is a generation-skipping transfer tax of 45 percent and a $3,500,000 exemption per person. | ||
While there are many variables in estate issues, here’s a simple example calculation:
| Tax | ||
|---|---|---|
| Gross Estate | $3,500,000 | |
| Closest Tax Value | $3,500,000 | $1,455,800 |
| Tentative Tax | $1,455,800 | |
| Unified Credit | $1,455,800 | |
| Estate Tax | $0 |
