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Julie Garber

2013 State Estate Tax and Inheritance Tax Changes

By December 26, 2012

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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  • The state estate tax in Ohio will be repealed in 2013 and beyond.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.

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