Massachusetts Estate Tax
The Mass estate tax is quite complicated and can be very costly.
Even though the tax does not start Till the estate exceeds 1,000,000, once it does the tax is effective for amounts less than 1,000,000.
Here are some examples of the estate tax that starts at .8% and tops out at 16%.
Size of the taxable estate Estimated tax
400,000. 10,000
800,000. 25,000
1,000,000. 35,000
1,500000. 70,000
2,000,000. 100,000
Even though the federal estate tax this year(2014) exempts 5,340,000
.from tax,the Massachusetts tax can be very significant.
We have several techniques to minimize this tax.
We would be happy to review your situation and work with you on reducing or eliminating this tax.
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