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Tennessee and Federal Estate Tax Exemptions Raised Today for 2014.

Posted on Jan 1 2014 10:20AM by Attorney, Jason A. Lee

Today the Tennessee inheritance tax exemption (for 2014) is raised to $2,000,000.00.  Next year it will increase to $5,000,000.00 and then it will be abolished in 2016.  The Federal inheritance tax exemption (for 2014) was raised to $5,340,000.00 today.  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, Federal Estate Tax
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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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