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New Maryland Estate Tax Bill: Signed, Sealed, Delivered

It's official!  Yesterday, Governor Martin O'Malley approved a new Maryland Estate Tax bill, increasing Maryland's estate tax exemption level.

  • In 2015, the amount that passes free of Maryland estate tax will increase from $1,000,000 to $1,500,000.
  • In 2016, it increases to $2,000,000.
  • In 2017, it increases to $3,000,000.
  • In 2018, it increases to $4,000,000
  • By 2019, the amount that passes free of Maryland estate tax will be exactly the same amount that passes free of Federal estate tax which is projected to be $5.9 million.

Many other bills (unrelated to estate planning) were signed into law yesterday as well.  You can see a more complete list here.

More to follow...

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