Unified Federal Estate and Gift Tax Table (2000)
For a Taxable Gift or Estate The Federal Tax from
to
Is
Of Amount Over
$ 0
$ 10,000
18%
$ 0
10,000
20,000
$ 1,800 + 20%
10,000
20,000
40,000
3,800 + 22%
20,000
40,000
60,000
8,200 + 24%
40,000
60,000
80,000
13,000 + 26%
60,000
80,000
100,000
18,200 + 28%
80,000
100,000
150,000
23,800 + 30%
100,000
150,000
250,000
38,800 + 32%
150,000
250,000
500,000
70,800 + 34%
250,000
500,000
750,000
155,800 + 37%
500,000
750,000
1,000,000
248,300 + 39%
750,000
1,000,000
1,250,000
345,800 + 41%
1,000,000
1,250,000
1,500,000
448,300 + 43%
1,250,000
1,500,000
2,000,000
555,800 + 45%
1,500,000
2,000,000
2,500,000
780,800 + 49%
2,000,000
2,500,000
3,000,000
1,025,800 + 53%
2,500,000
3,000,000
10,000,000
1,290,800 + 55%
3,000,000
10,000,000
21,040,000*
5,140,800 + 60%
10,000,000
21,040,000*
Infinity
11,764,800* + 55%
21,040,000*
* The 60% tax bracket results from the imposition of a 5% surtax on top of the 55% rate. This surtax is intended to phase out the benefit of the unified credit and the graduated tax rate structure for estates over $10 million. The table above reflects that intention. The statutory language enacted in the Taxpayer Relief Act of 1997, however, failed to accomplish that result. Therefore, unless and until a technical amendment is enacted, the 5% surtax will phase out only the benefit of the graduated rate structure and the 60% bracket will apply between $10,000,000 and $17,184,000, producing the following results:
FOR DECEDENTS DYING AND GIFTS MADE DURING
UNIFIED CREDIT
UNIFIED CREDIT EQUIVALENT
1997
$192,800
$600,000
1998
202,050
625,000
1999
211,300
650,000
2000 - 2001
220,550
675,000
2002 - 2003
229,800
700,000
2004
287,300
850,000
2005
326,300
950,000
2006 and thereafter
345,800
1,000,000
For a Taxable Gift or Estate The Federal Tax from
to
Is
Of Amount Over 10,000,000 17,184,000 5,140,800 + 60% 10,000,000 17,184,000 Infinity 9,451,200 + 55% 17,184,000 Provided courtesy of the LUTC Virtual Sales Assistant (http://www.lutc.com)