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Old 09-12-2023, 11:31 AM
Yoda Yoda is offline
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With the IRS estate threshold (I forget what it is these days, $4M?) you would have to have a really valuable collection or be asset rich in other areas to be faced with a large inheritance tax. Or have I got the wrong end of the stick here?
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Old 09-12-2023, 11:47 AM
raulus raulus is offline
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With the IRS estate threshold (I forget what it is these days, $4M?) you would have to have a really valuable collection or be asset rich in other areas to be faced with a large inheritance tax. Or have I got the wrong end of the stick here?
For 2023, the threshold is $12.92M.

https://www.irs.gov/businesses/small...yed/estate-tax
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Old 09-12-2023, 12:00 PM
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For 2023, the threshold is $12.92M.

https://www.irs.gov/businesses/small...yed/estate-tax
States are typically much lower though. In Taxachusetts, for example, it's 1 million.
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Last edited by Peter_Spaeth; 09-12-2023 at 12:05 PM.
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Old 09-12-2023, 01:46 PM
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CA has no estate tax. 0%
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Old 09-12-2023, 02:07 PM
raulus raulus is offline
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CA has no estate tax. 0%
I promise this isn't political, but...

I have a hard time believing it will stay that way forever. Of course, it's been that way for a while now, so maybe you'll get lucky.
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Old 09-12-2023, 02:15 PM
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I promise this isn't political, but...

I have a hard time believing it will stay that way forever. Of course, it's been that way for a while now, so maybe you'll get lucky.
I don't think it is going back. We have too many large ranches, orchards, vineyards and farms. At worst, we might go back into lock step with the Federal standard, which is pretty much what we do with similar taxes that have high thresholds.
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Old 09-12-2023, 02:36 PM
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What do ranches and orchards have to do with it, don't follow?
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