Q:

What were the federal estate tax rates in 2013?

A:

Quick Answer

The federal estate taxes rates in 2013 were $5,250,000 for the estate tax exemption and the lifetime gift tax exemption, according to the Tax Foundation. The annual gift tax exclusion was $14,000 and the maximum estate tax rate was 40 percent.

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Full Answer

The estate tax consists of the entirety of an individual's possessions at the date of his death. This is a tax on an individual's right to transfer the property at death, as explained by the Internal Revenue Service. The federal estate tax rates vary from one year to another. The filing of an estate tax return is required in most cases, even though some assets such as cash, small amounts of other assets and jointly held property may be exempt.

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