Federal Estate Tax Covers Few Ohioans
December 3, 2008
New estate tax statistics from the IRS show that the percentage of deaths resulting in federal estate tax is below 1 percent nationally and continues to fall under tax cuts approved in 2001. This December 2008 report by Citizens for Tax Justice presents the latest numbers. In Ohio, just 425 estates or 0.4 percent of the total owed federal estate tax in 2007. The report explains why the threshold for the tax needs to be restored, not set permanently at a lower level than it was prior to the cuts.