Abstract
As a consequence of the Economic Growth and Tax Reconciliation Act of 2001 (2001 Tax Act), the federal government eliminated the estate tax credit for state death taxes paid after 2004. Due to an anomaly in California constitutional law, the legislature is prohibited from imposing a California estate tax as it had in the past because the California Estate Tax was tied to the federal death tax credit. The authors discuss the details of the problem and suggest alternatives to overcome the significant loss of revenue from wealthy estates.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
