Wednesday, October 31, 2012

Mass estate tax reminder

     In Massachusetts the estate tax is based on the Federal law that was in effect as of December 31, 2000.  It was updated in 2006 to increase the exemption amount from $700,000 to $1,000,000.  Thus many people whose estates do not require the filing of a Federal estate tax return will nevertheless require the filing of a Massachusetts estate tax return.

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