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Another reason not to live up North (besides the snow)

by admin ~ February 4th, 2010. Filed under: Blog.

No, the map above is not the snow forecast for the weekend (though that map is colorful as well).

No, the shaded areas indicate which states in the Union have an estate tax, an inheritance tax, or both. Featured in the Forbes.com story Where Not to Die in 2010, the map illustrates the reality facing residents of 19 states and the District of Columbia in 2010.

Even though there is no federal estate tax for 2010, some residents of these states may have to foot the (tax) bill even after they kick the bucket. The tax rates range from 7% in Indiana to 20% in Ohio.

As the Forbes.com story pointed out, when it comes to tax law, the only thing constant is change. And more changes may be in the works as some have speculated that Congress may impose a new federal estate tax (or revive the one in effect in 2009) and make it retroactive to January 1.

If the warmer weather isn’t enough to make you thankful you don’t live up North, maybe this map will.

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