(MarketWatch) -- MarketWatch.com reports that even "with the new $5 million federal estate tax exemption for 2011 and 2012," there are still 20 states and D.C. that "impose estate or inheritance taxes that kick in below the $5 million mark, and some kick in below $1 million."
Ohio, New Jersey and Rhode Island have estate tax exemptions of less than $1 million (Ohio at $338,333; New Jersey at $675,000; and Rhode Island at $850,000).
MarketWatch reports, "The worst place to die is New Jersey with a combined effective estate and inheritance tax rate of 54.1%. ... In second place is Maryland at 50.9%." Meanwhile, "six states impose only inheritance taxes, which are assessed on the value of specific inherited assets in excess of the applicable exemption."
The inheritance tax rates "are 9.5% in Tennessee, 15% in Iowa and Pennsylvania, 16% in Kentucky, 18% in Nebraska, and 20% in Indiana." The story notes 28 states have no estate or inheritance taxes, and that "they are better places to die."
http://www.marketwatch.com/story/story/print?guid=6367c4fc-393f-11e0-ac3a-072128040cf6
