| Abstrakt: |
B New for 2021 b With the estate tax laws that are in place, the current threshold for tax exemptions is $11.7 million for an individual and double that for couples. "This is due to the fact that the rates for Federal Gift Tax, Federal Estate Tax, and the Federal Generation-Skipping Transfer Tax are relatively low, while the amount of tax exemption available for those taxes is extraordinarily high. Also, due to low interest rates right now, it's also a good year to make certain kinds of sales" As Knutson pointed out, South Dakota doesn't have a state gift tax like other states. [Extracted from the article] |
