States with estate taxes are beginning to reap estate tax revenues again since the federal estate tax was restored for 2011. For example, Illinois has purposefully set its estate tax exemption to $2 million. Thus, Illinois will collect taxes on estates that fall in the middle range between $2 million and $5 million. States that make such an exemption permanent should continue to benefit if the federal exclusion level is not lowered in the future.
See Tim Landis, "States Start to See Estate Tax Revenue Again," sj-r.com (Sept. 26, 2011).
Posted by Andrew Hodes, Associate Editor, Wealth Strategies Journal
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