Local Estate Tax Exclusions -- District of Columbia, Maryland
& Virginia
Virginia has repealed its estate tax
effective for decedents dying after 7/1/2006.
DC's estate tax is based
on the old Federal state death tax credit. DC's estate tax starts when a
decedent has a taxable estate of $1 million or more.
Maryland's estate
tax is based on the old Federal state death tax credit, but the tax is limited
to 16% of the taxable estate over $1 million. Estates in excess of $1 million
are subject to the Maryland estate tax.
Maryland also has a 10 percent
inheritance tax levied on transfers outside the nuclear family.
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information presented at this site should not be construed to be formal legal
advice nor the formation of a lawyer/client relationship.