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TAXPAYER: Class A, B or C transferees:
Class A – Lineal ancestor or descendent, step-child.
Class B – Sister, brother, descendant of brother or sister, daughter-in-law,
son-in-law.
Class C – All other transferees who are neither Class A or Class
B, or spouse.
EXCEPTIONS: Transfers to a surviving spouse, life insurance payable
to a named beneficiary, real property owned by tenancy by the entireties, transfers
for charitable purposes and transfers to a cemetery association. Additional exemptions
include:
Class A transferees: $100,000
Class B transferees: 500
Class C transferees: 100
Net Taxable
Value of Transfer |
Inheritance Tax |
|
From |
To |
Amount+ |
% of Excess |
Over |
|
Class A Transferees |
|
$0 |
$25,000 |
$0 |
1% |
$0 |
|
25,000 |
50,000 |
250 |
2% |
,000 |
|
50,000 |
200,000 |
750 |
3% |
50,000 |
|
200,000 |
300,000 |
5,250 |
4% |
200,000 |
|
300,000 |
500,000 |
9,250 |
5% |
300,000 |
|
500,000 |
700,000 |
19,250 |
6% |
500,000 |
|
700,000 |
1,000,000 |
31,250 |
7% |
700,000 |
|
1,000,000 |
1,500,000 |
52,520 |
8% |
1,000,000 |
|
1,500,000 |
above |
92,250 |
10% |
1,500,000 |
|
Class B Transferees |
|
$0 |
$100,000 |
$0 |
7% |
$0 |
|
100,000 |
500,000 |
7,000 |
10% |
100,000 |
|
500,000 |
1,000,000 |
47,000 |
12% |
500,000 |
|
1,000,000 |
And above |
107,000 |
15% |
1,000,000 |
|
Class C Transferees |
|
$0 |
$100,000 |
$0 |
10% |
$0 |
|
100,000 |
1,000,000 |
10,000 |
15% |
100,000 |
|
1,000,000 |
And above |
145,000 |
20% |
1,000,000 |
|