News & Analysis as of September 6, 2025

Taxation

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Estate taxes, also known as inheritance or death taxes, are taxes on an individual's right to transfer property at death.

Increased Wealth Transfer Tax Exemptions Made Permanent in One Big Beautiful Bill

Arnall Golden Gregory LLP on 7/9/2025

The new tax cut and spending bill known as the “One Big Beautiful Bill Act,” which was signed into law on July 4, 2025, increases federal estate, gift, and generation-skipping transfer (“GST”) tax exemptions to $15 million...more

Washington State to Raise Capital Gains, Estate Tax Rates

Fox Rothschild LLP on 5/8/2025

By June 7, 2025, Gov. Bob Ferguson is expected to sign legislation into law that would increase funding for Washington State's Education Legacy Trust Account (ELTA) by raising the capital gains and estate tax rates. ...more

House Democrats Weigh Major Tax Changes for Businesses, Funds, and Individuals

Mintz - ML Strategies on 10/12/2021

In May 2021, President Biden’s administration released a $6 trillion budget proposal for the coming fiscal year (Budget), including $3.6 trillion of tax increases over 10 years and generous tax credits to incentivize clean...more

Wills, Trusts and Estates: Plain and Simple - Estate Planning – Besides Saving Estate Taxes, What Should Be On Your Checklist?

Farrell Fritz, P.C. on 10/30/2019

The federal estate tax exemption is now $11.4 million per person ($22.8 million/couple), and the New York State estate tax exemption is now $5,740,000 per person. Generally, the exemption amount is the value of assets that...more

Impact of New Tax Laws on Estate Planning

Polsinelli on 4/9/2018

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by the President on December 22, 2017, and represents one of the most significant rewritings of the federal tax code since 1986. ...more

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