Federal Gift and Estate Tax Rates

 

Federal Gift and Estate Tax Rates

Table posted in on 11 January 2008| comments
audience: National Publication | last updated: 26 May 2011
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In general, the tentative federal gift or estate tax is calculated by referencing the taxable gift or estate to the following table. The net gift or estate tax is obtained by reducing the tentative tax by the amount of available unified gift or estate tax credit, credits for state and foreign death taxes, and gift taxes paid on certain prior transfers.

The federal gift tax return (Form 709) and federal estate tax return (Form 706) for current and prior years, accompanying instructions, and related publications can be found at the IRS web site.

Federal Gift and Estate Tax Rates for Transfers Occurring in 2011

Column AColumn BColumn CColumn D
    
   Rate of tax
TaxableTaxableTax onon excess
amountamountAmount inover amount
over--not over--Column Ain Column A
    
- - - -$10,000- - - - -18%
$10,00020,000$1,80020%
20,00040,0003,80022%
40,00060,0008,20024%
60,00080,00013,00026%
80,000100,00018,20028%
100,000150,00023,80030%
150,000250,00038,80032%
250,000500,00070,80034%
500,000750,000155,80035%

Top Gift and Estate Tax Rates for Years 2003 Through 2012

 Top Gift
 and Estate
YearTax Bracket
  
200349%
200448%
200547%
200646%
200745%
200845%
200945%
201035% (Gift Tax Only. Estate Tax Repealed)
201135%
201235%

The following table shows the amount that can is sheltered by the estate tax credit for the calendar year in which a decedent dies. These amounts would be reduced by prior lifetime taxable gifts for which the gift tax credit was used.

 Unified Credit
 Equivalent
YearAmount
  
2002 - 2003$1,000,000
2004 - 2005$1,500,000
2006 - 2008$2,000,000
2009$3,500,000
2010Estate Tax Repealed
2011$5,000,000
2012$5,000,000

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