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Tennessee and Federal Estate Tax Exemptions Raised Today for 2015.

Posted on Jan 1 2015 11:13AM by Attorney, Jason A. Lee

Today the Tennessee Inheritance Tax exemption (for 2015) is raised to $5,000,000.00.  Next year the Tennessee Inheritance Tax will be abolished.  Starting January 1, 2016 (for those who die on or after that date) there will no longer be any Tennessee Inheritance Tax obligations.  The Federal Estate Tax exemption (for 2015) was raised to $5,430,000.00 today.  It is indexed to inflation and should go up each year.  As a result, these taxes rarely come into play when dealing with estate planning in Tennessee unless you have a very large estate.  Happy New Year!

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TAGS: Tennessee Inheritance Tax, Taxes
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Jason A. Lee is a Member of Burrow Lee, PLLC. Contact Jason at 615-540-1004 or jlee@burrowlee.com for an initial consultation on wills estate planning and probate issues.

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Tennessee Wills and Estates Blog
Jason A. Lee, Member of Burrow Lee, PLLC
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E-mail: jlee@burrowlee.com

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