Donald M. Thompson - Wills, Trusts, and Estate Planning

WILLS, TRUSTS, AND ESTATE PLANNING
Rates

 
Amount Subject to Tax
Tax Rate in Bracket

$0 - 9,999
18

$10,000 - 19,999
20

$20,000 - 39,999
22

$40,000 - 59,999
24

$60,000 - 79,999
26

$80,000 - 99,999
28

$100,000 - 149,999
30

$150,000 - 249,999
32

$250,000 - 499,999
34

$500,000 - 749,999
37

$750,000 - 999,999
39

$1,000,000 - 1,249,000
41

$1,250,000 - 1,499,999
43

$1,500,000 - 1,999,999
45

$2,000,000+
48

The top rate will drop to 47% in 2005, 46% in 2006 and 45% in 2007 - 2009. The estate tax is repealed in 2010. In 2011 it comes back into effect at 2000 levels. The gift tax stays in effect in 2010 with a top rate of 35%.

 

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55 W. Monroe #3950; Chicago, IL 60603
Ph: 312-782-0844 * Fax: 312-201-1436 * Email: donthompsonlaw@sbcglobal.net
Illinois Estate Planning Lawyer Donald M. Thompson