Relating to the estate tax; prescribing an effective date.
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
- Stage
- Session ended
- Started in
- Senate
- Latest action
- Mar 7
Where it stands
Introduced (Done)
Committee (Done)
Floor (Current step)
Law (Needs attention)
What it does
] Converts the $1 million exclusion for an estate subject to tax to a deduction of $2.5 million. Phases in the tax above the deduction. Raises the filing threshold for an estate tax return. Adjusts the deduction and filing threshold for inflation. Adjusts estate tax rates. Applies to the estates of decedents dying on or after January 1, 2027. Takes effect on the 91st day following adjournment sine die.
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