Menu Search Account

LegiStorm

Get LegiStorm App Visit Product Demo Website
» Get LegiStorm App
» Get LegiStorm Pro Free Demo

Indexing the Estate Tax Exemption for Inflation (CRS Report for Congress)

Premium   Purchase PDF for $24.95 (15 pages)
add to cart or subscribe for unlimited access
Release Date July 7, 2006
Report Number RL33501
Report Type Report
Authors Nonna A. Noto, Government and Finance Division
Source Agency Congressional Research Service
Summary:

H.R. 5638, the Permanent Estate Tax Relief Act of 2006, was passed by theHouse of Representatives on June 22, 2006. Among the changes it would make areraising the level of the exemption under the unified estate and gift taxes to $5 millionper decedent in 2010 and indexing that amount for inflation in the years thereafter.The inflation-adjusted amount of the exemption for a year would be rounded to thenearest multiple of $100,000.