The 2014 estate tax rate chart shows that the Internal Revenue Service imposes an 18 percent tax rate on estates worth up to $10,000, with rates increasing as the value of an estate rises, notes benefits advisory firm Chernoff Diamond. Estates worth between $10,001 and $20,000 attract a 20 percent tax rate, while those possessing a value of $1,000,001 or more attract a 40 percent rate.
The 2014 estate tax rate chart also shows that the IRS levies a 22 percent tax on estates worth between $20,001 and $40,000 and a 24 percent rate for estates with a value of between $40,001 and $60,000, reports Chernoff Diamond. In general, the 2014 estate tax rate chart shows the tax rate rising by 2 percent per tier.
For instance, estates on the $60,001 to $80,000 tier attract a 26 percent rate, with the rate rising by 2 percent for estates possessing a value between $80,001 and $100,000, explains Chernoff Diamond. The rate hits 30 percent for estates worth between $100,001 and $150,000, rises to 32 percent for estates possessing values between $150,001 and $250,000, and increases by 2 percent for estates worth between $250,001 and $500,000.
Only two other levels lie between that and the $1,000,001 tier; the $500,001 to $750,000 tier, which attracts a 37 percent tax rate, and the $750,001 to $1 million tier, on which the IRS imposes a 39 percent tax rate, according to Chernoff Diamond.