Tip: State inheritance taxes may also be due, independent of
the federal estate tax burden.
Not exact matches
«The New York City business community supports recommendations of this commission to reduce some aspects of the
tax burden, including simplification and consolidation of business and bank
taxes, accelerated phase out of a surcharge
tax on utilities, and raising the threshold for
estate taxes to conform with
federal standards,» she said.
Even if an ILIT isn't being used as part of the
estate plan, perhaps because there are no children or grandchildren, second to die life insurance is a good way to handle the
burden of
federal estate taxes.
Now that it is clear that the
federal estate taxes aren't really going away, and state death
taxes never were, it's time for high net worth families to get serious about covering that
tax burden with one of the best deals in permanent insurance ever, the no lapse guarantee UL.
Suburban REALTORS Alliance Position The Alliance is opposed to increases in the current transfer
tax for the following reasons: 1) As the transfer
tax is levied only on buyers and sellers of property, the
burden per taxpayer is greater than the
burden from a more broad - based
tax designed to generate the same amount of revenue; 2) Since public transportation is a benefit that is open to all members of society, the charge should not be placed solely on buyers and sellers of property; 3) The transfer
tax adds additional
burdens on first - time home buyers saving for a down - payment and covering the closing costs and runs contrary to existing
federal, state, and local programs including the mortgage interest deduction, low interest property maintenance loans, and grants to first time homebuyers; 4) A real
estate transfer
tax is a state and local
tax assessed on real property when ownership of the property is exchanged between parties.