2007 Estate Tax Tables
| 2007 Income Tax Rates for Trust's and Estates |
|
Taxable Income |
PAY |
Plus % on excess |
Of the Amount Above | |
Below $2,050 |
Not Applicable |
15.0 % |
$ 0 | |
$2,050 - 4,850 |
$307.50 |
25.0 % |
$2,050 | |
$4,850 - 7,400 |
$1,007.50 |
28.0 % |
$4,850 | |
$7,400 - 10,050 |
$1,721.50 |
33.0 % |
$7,400 | |
Over $10,050 |
$2596.00 |
35.0 % |
$10,050 |
|
Unified Estate and Gift Tax Schedule
| |
Taxable Income |
PAY |
Plus % on excess |
Of the Amount Above |
|
Below $12,000 |
Not Applicable |
18.0 % |
$ 0.00 |
|
$12,000 - 20,000 |
$1,800.00 |
20.0% |
$10,000 | |
$20,000 - 40,000 |
$3,800.00 |
22.0% |
$20,000 | |
$40,000 - 60,000 |
$8,200.00 |
24.0% |
$40,000 | |
$60,000 - 80,000 |
$13,000.00 |
26.0% |
$60,000 | |
$80,000 - 100,000 |
$18,200.00 |
28.0% |
$80,000 | |
$100,000 - 150,000 |
$23,800.00 |
30.0% |
$100,000 | |
$150,000 - 250,000 |
$38,800.00 |
32.0% |
$150,000 | |
$10,000 - 20,000 |
$1,800.00 |
20.0% |
$10,000 | |
$250,000 - 500,000 |
$70,800.00 |
34.0% |
$250,000 | |
$500,000 - 750,000 |
$155,800.00 |
37.0% |
$500,000 | |
$750,000 - 1,000,000 |
$248,300.00 |
39.0% |
$750,000 | |
$1,000,000 - 1,250,000 |
$345,800.00 |
41.0% |
$1,000,000 | |
$1,250,000 - 1,500,000 |
$448,300.00 |
43.0% |
$1,250,000 | |
$1,500,000 - 2,000,000 |
$555,800.00 |
45.0% |
$1,500,000 | |
$2,000,000 - 2,500,000 |
$780,800.00 |
49.0% |
$2,000,000 | |
Over $2,500,000 |
$1,025,800.00 |
50.0 % |
$2,500,000 |
|
Unified Estate and Gift Tax Credit |
| Beginning in 2002, the applicable credit amount will gradually increase until estate taxes are totally repealed in 2010. In 2002, the applicable credit amount (equivalent estate) will be $1,000,000; the Tax Credit is $345,800 | |
tax year |
Estate tax exemption |
Top estate and gift tax rate |
| |
2002 |
$1,000,000 |
50% |
| |
2003 |
$1,000,000 |
49% |
| |
2004 |
$1,500,000 |
48% |
| |
2005 |
$1,500,000 |
47% |
| |
2006 |
$2,000,000 |
46% |
| |
2007 |
$2,000,000 |
45% |
| |
2008 |
$2,000,000 |
45% |
| |
2008 |
$2,000,000 |
45% |
| |
2009 |
$3,500,000 |
45% |
| |
2010 |
(estate tax repealed) |
35% (gift tax only) | |
|
