2013 State Estate Tax and Inheritance Tax Changes

Here is a summary of the state estate tax and inheritance tax changes that will take effect on January 1, 2013:

• The beneficiaries of decedents who die in 2013 will be eligible for a 10% credit against any Indiana inheritance tax imposed against the decedent's estate.
• The state estate tax exemption in Illinois will increase from $3.5 million in 2012 to $4 million in 2013.
• The state estate tax exemption in Maine will increase from $1 million in 2012 to $2 million in 2013, and the estate tax rates will drop.
• The state estate tax in Ohio will be repealed in 2013 and beyond.
• The state estate tax exemption in Rhode Island will increase from $892,965 in 2012 to $910,725 in 2013.
• The state estate tax exemption in Tennessee will increase from $1 million in 2012 to $1.25 million in 2013.

Further Reading

• Which States Collect an Estate Tax?
• Which States Collect an Inheritance Tax?
• What's the Difference Between an Estate Tax and an Inheritance Tax?
• State Estate Tax and Exemption Chart
• State Inheritance Tax Chart