Maryland to Increase Estate Tax Exemption

By Richard S. Franklin and Jennifer A. Birchfield

If Governor O’Malley signs into law House Bill 739/Senate Bill 602, passed by the Maryland House on March 7, 2014 and the Maryland Senate on March 20, 2014, the Maryland estate tax exemption will increase from the current $1 million amount as follows:

2014                                                    $1,000,000

2015                                                    $1,500,000

2016                                                    $2,000,000

2017                                                    $3,000,000

2018                                                    $4,000,000

2019 and thereafter                             match federal exclusion

The legislative summary provides background on the changes.

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