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Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 9484
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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# could you tell me the exact federal estate tax rate on an estate

could you tell me the exact federal estate tax rate on an estate of 19 million. i know there is a deductable of 5.1 mmilllion leaving taxable 13.9 million but dont know the rate it would be taxed on ? thnalk you

Lane :

for 2013 the exemption is \$5,250,000 now let me get the 2013 brackets

Lane :

First, Here are the 2013 numberws

Lane :

For a Taxable Estate or Gift
From
\$
0
The Federal
Tax Is
To
\$
10,000
10,000 20,000
20,000
18%
\$
Of the
Amount Over
\$
0
1,800 + 20% 10,000
40,000 3,800 + 22% 20,000
40,000 60,000 8,200 + 24% 40,000
60,000 80,000 13,000 + 26% 60,000
80,000 100,000 18,200 + 28% 80,000
100,000 150,000 23,800 + 30% 100,000
150,000 250,000 38,800 + 32% 150,000
250,000 500,000 70,800 + 34% 250,000
500,000 750,000 155,800 + 37% 500,000
750,000 1,000,000 248,300 + 39% 750,000
1,000,000 Infinity 345,800 + 40% 1,000,000

Lane :

19,000,000 - 5,250,000 = 13,750

Lane :

sorry 13,750,000

Lane :

so 345800

Customer:

i understand the 40% part but very confused as to what the 345,800 is ?

Lane :

so 345800 + (.4 x 13750000) = 5,845,800

Lane :

It's just the tax on the dollars UP TO 1,000,000

Customer:

so the 345,800 its just an extra tax that any estate pays on over 1 mil ?

Lane :

It's the tax the estate pays on the FIRST million

Lane :

by adding up the progressive tax brackets that go you there

Lane :

see how each bracket is defined by a number then is says X% on the amount over Y?

Customer:

sorry to be so ignorant , but its on the first mil over the exemption correct ?

Lane :

That's exactly right ... TAXABLE estate

Customer:

thank you for excellent information

Lane :

the 345,000 is just what all those previous amounts add up to (after having already chopped off the 5,250,000

Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 9484
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Customer: replied 2 years ago.

im back , 1) exactly how is a family llc taxed (if at all) as part of an estate

2) how is a life insurance trust taxed in an estate (if at all) ?

thank you

You;'re all around it.

It all depends on whether the assets ARE viewed as part of the estate

For life insurance trusts, if they're set up a irrevocable and establish with all of the requirements of a complete gift of present interest they are NOT part of the estate.

And on the Family LLC, it just depends on what the decedent's interest is
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 9484
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986

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