December 4, 2014
Transfer Tax Exemptions and Highest Rates
| 2011 | 2012 | 2013 | 2014 | 2015 | |
| Gift Tax Exemption | $5,000,000 | $5,120,000 | $5,250,000 | $5,340,000 | $5,430,000 |
| Estate Tax Exemption | $5,000,000 | $5,120,000 | $5,250,000 | $5,340,000 | $5,430,000 |
| GST Tax Exemption | $5,000,000 | $5,120,000 | $5,250,000 | $5,340,000 | $5,430,000 |
| Highest Estate & Gift Tax Rates | 35% | 35% | 40% | 40% | 40% |
*To be indexed for inflation.
Additional Updates:
- The Annual Gift Tax Exclusion amount is scheduled to remain $14,000 in 2015.
- The Kiddie Tax thresholds, which apply to unearned income of minor children, are scheduled to increase $50 in 2015 to $1,050 from $1,000.
- Proposed Transportation Fringe Benefits for employer provided transportation benefits are $250/month for parking and $130/month for transit. (same as 2014)
- The maximum credit for adoption expenses will increase $210 in 2015 to $13,400.
