Where Not To Die In 2016
Washington Exemption amount: $2,079,000* Top tax rate: 20% *Indexed for inflation annually.
Oregon Exemption amount: $1 million Top tax rate: 16%
Nebraska Exemption amount: $10,000 Top tax rate: 18%
Iowa Exemption amount: None Top tax rate: 15%
Minnesota Exemption amount: $1.6 million Top rate: 16% *Exemption increases to $1.8 million in 2017; $2 million in 2018 and after.
Illinois Exemption amount: $4 million Top tax rate: 16%
Kentucky Exemption amount: $500 Top tax rate: 16%<br>
Pennsylvania Exemption amount: None Top tax rate: 15%
Maryland Exemption amount: $2 million Top rate: 16% Exemption increases to $3 million in 2017; $4 million in 2018; set to match federal law in 2019 ($5.45 million exemption for 2016), and indexed for inflation annually after. For inheritance tax, no exemption, top rate is 16%.
New York Exemption amount: $3,125,000 from April 1, 2015 to March 31, 2016 Top tax rate: 16% Exemption amount increases to $4,187,500 from April 1, 2016 to March 31, 2017; $5.25 million from April 1, 2017 to Dec. 31, 2018; set to match federal law in 2019 ($5.45 million exemption for 2016), and indexed for inflation annually after.
Washington, D.C. Exemption amount: $1 million* Top tax rate: 16% *Exemption amount increases to $2 million when revenue surplus target met (possibly as of 1/1/2017), and later to match federal exemption amount ($5.45 million for 2016), again based on revenue surplus.
Maine Exemption amount: $5.45 million* Top tax rate: 12% *Indexed for inflation annually.
Hawaii Exemption amount: $5.45 million* Top tax rate: 16% *Indexed for inflation annually.
New Jersey Exemption amount: $675,000 Top tax rate: 16% For inheritance tax, no exemption, top rate is 16%.
<div>Delaware Exemption amount: $5.45 million* Top tax rate: 16% *Indexed for inflation annually.</div>
Connecticut Exemption amount: $2 million Top tax rate: 12% Cap: $20 million
<div>Rhode Island Exemption amount: $1.5 million* Top tax rate: 16% *Indexed for inflation annually.</div>
<div>Massachusetts Exemption amount: $1 million Top tax rate: 16%</div>
Vermont Exemption amount: $2.75 million Top tax rate: 16%<br>
<div>Maine Exemption amount: $5.45 million* Top tax rate: 12% *Indexed for inflation annually.</div>