|
Year
|
Gift Tax Exemption
|
Estate & GST Tax Exemption1
|
|
2001
|
$675,000
|
$675,0002
|
|
2002
|
$1
million
|
$1
million3
|
|
2003
|
$1
million
|
$1
million4
|
|
2004
|
$1
million
|
$1.5
million
|
|
2005
|
$1
million
|
$1.5
million
|
|
2006
|
$1
million
|
$2
million
|
|
2007
|
$1
million
|
$2
million
|
|
2008
|
$1
million
|
$2
million
|
|
2009
|
$1
million
|
$3.5
million
|
|
2010
|
$1
million
|
(repealed)
|
|
|
|
Year
|
Highest Estate, GST
& Gift Tax Rates
|
|
|
2001
|
55%5
|
|
1
|
Less
any gift tax exemption already used.
|
|
2
|
The
GST tax exemption is $1.06 million.
|
|
3
|
The
GST tax exemption is $1.1 million.
|
|
4
|
The
GST tax exemption is adjusted for inflation.
|
|
5
|
The
benefits of the graduated estate and gift tax rates and
exemptions are phased out for estates/gifts over $10
million.
|
|
|
2002
|
50%
|
|
2003
|
49%
|
|
2004
|
48%
|
|
2005
|
47%
|
|
2006
|
46%
|
|
2007
|
45%
|
|
2008
|
45%
|
|
2009
|
45%
|
|
2010
|
35%
(gift tax only)
|
|
|
|
Year
|
Estate Tax on $2.5 Million
|
Estate Tax on $5 Million
|
|
2001
|
$805,250
|
$2,170,250
|
|
2002
|
$680,000
|
$1,930,000
|
|
2003
|
$680,000
|
$1,905,000
|
|
2004
|
$465,000
|
$1,665,000
|
|
2005
|
$460,000
|
$1,635,000
|
|
2006
|
$230,000
|
$1,380,000
|
|
2007
|
$225,000
|
$1,350,000
|
|
2008
|
$225,000
|
$1,350,000
|
|
2009
|
$0
|
$675,000
|
|
2010
|
$0
|
$0
|
|
Source:
U.S. Internal Revenue Code
|
|