NCBA Blasts President Obama’s Proposed Estate Tax Exemption Decrease

NCBA Blasts President Obama’s Proposed Estate Tax Exemption Decrease

Oklahoma Farm Report

The president’s budget proposes an estate tax at a $3.5 million exemption level with a maximum tax rate of 45 percent. As a result of a last-minute fix passed through Congress in December 2010, the current estate tax exemption level is $5 million per individual and $10 million per couple with a maximum tax rate of 35 percent.

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