MD Senate Approves Raising Estate Tax Exemption - 47 ABC - Delmarva's Choice

MD Senate Approves Raising Estate Tax Exemption

Posted: Updated:

ANNAPOLIS, Md. (AP) - The Maryland Senate has approved raising the exemption on the estate tax.
    
The Senate voted 36-10 on Thursday for a measure already approved by the House of Delegates. That sends the bill to Gov. Martin O'Malley.
    
The measure would recouple Maryland's estate tax to the federal one in several years. Now, Maryland estates worth more than $1 million are taxed at a rate of up to 16 percent.
    
The bill would raise the exemption to $1.5 million next year and $2 million in 2016. The exemption would rise to $3 million in 2017 and $4 million in 2018 before being coupled with the federal exemption in 2019. The federal exemption, which is indexed to inflation, is projected to be $5.9 million in 2019.

 

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • ContestsMore>>

  • Midway Speedway Giveaway

    Midway Speedway Giveaway

    Thursday, June 26 2014 7:57 AM EDT2014-06-26 11:57:18 GMT
    Enter to win a Midway Speedway Four Person Park Pass This includes all day at the waterpark, four choice tickets (good for any ride or attraction) and a round of fire mountain golf. Rules No purchaseMore >>
    Enter to win a Midway Speedway Four Person Park Pass This includes all day at the waterpark, four choice tickets (good for any ride or attraction) and a round of fire mountain golf. Rules No purchaseMore >>
  • Teacher Who Makes A Difference

    Teacher Who Makes A Difference

    The WMDT 47 Teachers Who Make a Difference Contest is Sponsored by Accurate Optical: "Encouraging children of all ages to come in for an annual eye exam to help them see better in school." Each month weMore >>
    The WMDT 47 "Teachers Who Make a Difference" Sponsored by Accurate Optical Encouraging children of all ages to come in for an annual eye exam to help them see better in school.More >>
  • Free Tuition Contest

    Free Tuition Contest

  • Most Popular StoriesMost Popular StoriesMore>>

  • Homeless Sex Offenders

    Homeless Sex Offenders

    DELAWARE - Individuals featured in this slideshow are NOT wanted. They are sex offenders who have registered with Delaware State Police as homeless. These are public notifications.More >>
    DELAWARE - Individuals featured in this slideshow are NOT wanted. They are sex offenders who have registered with Delaware State Police as homeless. These are public notifications.More >>
  • One Of Wicomico Co.'s Most Wanted Arrested In PA

    One Of Wicomico Co.'s Most Wanted Arrested In PA

    Tuesday, July 29 2014 12:21 PM EDT2014-07-29 16:21:36 GMT
    WICOMICO CO., Md. - A man Police in Wicomico County have been searching for, for three years, has been apprehended. The Wicomico County Sheriff's Office says on July 23rd, an Officer from the Mt. JewettMore >>
    WICOMICO CO., Md. - A man Police in Wicomico County have been searching for, for three years, has been apprehended.More >>
Powered by WorldNow
Powered by WorldNow All content © Copyright 2000 - 2014 WorldNow and WMDT. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.