Estates-By-State: The House GOP’s $270 Billion Tax Cut

Apr 13, 2015 Issues: Tax Reform

House Republicans will vote this week to repeal the estate tax, handing a nearly $270 billion tax cut to a tiny number of the wealthiest Americans. In fact, three-quarters of the tax cut would go to inheritors of estates valued at more than $20 million.

To understand just how few households would benefit – approximately 5,400 in any given year nationwide, according to a Joint Committee on Taxation analysis – here is a state-by-state breakdown of the number of estates who are expected to owe any federal estate tax in 2016, put together by the Center on Budget and Policy Priorities.

STATE

Estates Owing Any Federal Estate Tax, 2016

AL

50

AK

*fewer than 10

AZ

60

AR

30

CA

970

CO

100

CT

140

DE

*10

DC

40

FL

660

GA

100

HI

30

ID

*20

IL

220

IN

60

IA

60

KS

40

KY

40

LA

80

ME

*fewer than 10

MD

70

MA

140

MI

100

MN

60

MS

30

MO

90

MT

*20

NE

60

NV

30

NH

20

NJ

130

NM

30

NY

430

NC

120

ND

*20

OH

100

OK

50

OR

50

PA

160

RI

*20

SC

60

SD

*20

TN

60

TX

340

UT

30

VT

*20

VA

200

WA

100

WV

*10

WI

70

WY

*fewer than 10

Other areas

40

 

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