Estates-By-State: The House GOP’s $270 Billion Tax Cut
House Republicans will vote this week to repeal the estate tax, handing a nearly $270 billion tax cut to a tiny number of the wealthiest Americans. In fact, three-quarters of the tax cut would go to inheritors of estates valued at more than $20 million.
To understand just how few households would benefit – approximately 5,400 in any given year nationwide, according to a Joint Committee on Taxation analysis – here is a state-by-state breakdown of the number of estates who are expected to owe any federal estate tax in 2016, put together by the Center on Budget and Policy Priorities.
STATE | Estates Owing Any Federal Estate Tax, 2016 |
AL | 50 |
AK | *fewer than 10 |
AZ | 60 |
AR | 30 |
CA | 970 |
CO | 100 |
CT | 140 |
DE | *10 |
DC | 40 |
FL | 660 |
GA | 100 |
HI | 30 |
ID | *20 |
IL | 220 |
IN | 60 |
IA | 60 |
KS | 40 |
KY | 40 |
LA | 80 |
ME | *fewer than 10 |
MD | 70 |
MA | 140 |
MI | 100 |
MN | 60 |
MS | 30 |
MO | 90 |
MT | *20 |
NE | 60 |
NV | 30 |
NH | 20 |
NJ | 130 |
NM | 30 |
NY | 430 |
NC | 120 |
ND | *20 |
OH | 100 |
OK | 50 |
OR | 50 |
PA | 160 |
RI | *20 |
SC | 60 |
SD | *20 |
TN | 60 |
TX | 340 |
UT | 30 |
VT | *20 |
VA | 200 |
WA | 100 |
WV | *10 |
WI | 70 |
WY | *fewer than 10 |
Other areas | 40 |
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