News & Analysis as of

Inheritance Tax

Edith Windsor: Saying Farewell to a Brave Woman

by Bowditch & Dewey on

In law school, I wrote papers on the tax consequences of death and divorce for same-sex married couples. The conclusions I drew in those academic exercises included advising same-sex married couples to plan for tragedy well...more

What the Governor’s Race Could Mean for the New Jersey Estate Tax

by Genova Burns LLC on

New Jersey is one of two states that impose both an inheritance tax and a State estate tax upon death (Maryland is the other state). According to a bill signed into law by Governor Chris Christie in October 2016, the estate...more

Governor Holds Final Bill Signing Session

by Pessin Katz Law, P.A. on

On May 4th, Governor Larry Hogan conducted his last bill signing session for the 2017 Maryland General Assembly session. Although bill numbers are listed, once signed they become law, but the corresponding chapter numbers are...more

Business Law Update - May 2017

by Barley Snyder on

Through June 19, the Pennsylvania Tax Amnesty Program will waive all penalties and slash the interest rate on outstanding tax delinquencies that existed as of the end of 2015. Both the state and the Pennsylvania Department of...more

President Trump’s Tax Plan

by Butler Snow LLP on

In rounding out his first 100 days in office, President Trump released an overview of his proposed tax plan. The one page bullet point plan consists of general taxpayer relief for individuals in the form of a simplified tax...more

Kyiv Tax Newsletter (Ukrainian)

by Dentons on

On 23 March 2017, the President of Ukraine signed the Law of Ukraine “On Amendments to the Tax Code of Ukraine Concerning the Taxation of Inheritance” (hereinafter – the Law on inheritance tax), which simplifies the...more

Kyiv Tax Newsletter - April 2017

by Dentons on

On 23 March 2017, the President of Ukraine signed the Law of Ukraine “On Amendments to the Tax Code of Ukraine Concerning the Taxation of Inheritance” (hereinafter – the Law on inheritance tax), which simplifies the...more

New Reporting Regime: Estates Who Have to File Federal Estate Tax Returns Need to be Aware of New Basis Consistency Law

by Bowditch & Dewey on

On July 31, 2015, the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 introduced new tax law that affects executors who are required to file a federal estate tax return and beneficiaries...more

How do recent updates to estate tax laws impact your future?

by Dentons on

In 2013, Kiplinger ranked the states with the scariest "death taxes." At that time, New Jersey topped the list, with an estate tax exemption of only $675,000, and with an inheritance tax imposed upon transfers to other than...more

Final Response to Non-Dom Consultation Published - Update

by McDermott Will & Emery on

The UK government has released its final response to the further consultation on reforms to the taxation of non-UK domiciliaries (non-doms), together with draft legislation that will take effect from 6 April 2017. As well as...more

Registration Duty – All clear ?

by Hogan Lovells on

Yesterday, the director of the Luxembourg indirect tax administration (administration de l'enregistrement et des domaines) issued circular n° 782 dated 2 January 2017 (the "Circular"). The Circular recalls the main changes...more

Final Response to Non-Dom Consultation Published

by McDermott Will & Emery on

The UK government has released its final response to the further consultation on reforms to the taxation of non-UK domiciliaries (non-doms), together with some draft legislation that will take effect from 6 April 2017. As...more

UK Autumn Statement 2016: inheritance tax and business property relief | Insights | DLA Piper Global Law Firm

by DLA Piper on

In the 2016 Autumn Statement, The Chancellor announced that reforms, originally proposed in Summer Budget 2015, to inheritance tax and business investment relief for non-UK domiciled individuals will come into effect from 6...more

New Jersey Repeals Estate Tax

by Cozen O'Connor on

As a result of new legislation, New Jersey has eliminated its estate tax as of January 1, 2018. Under the estate tax, New Jersey levies a tax on all assets of a decedent’s estate in excess of $675,000 (except assets passing...more

New Jersey Tax Law Update

by Pepper Hamilton LLP on

The new tax law raises the gas tax to increase state revenue, but also includes provisions that are designed to reduce taxes for New Jersey residents. On October 14, New Jersey Governor Chris Christie signed into law...more

Using corporate structures to own UK residential property – a dead end?

by Dechert LLP on

Historically, UK resident non-domiciled individuals have been able to achieve certain tax advantages through holding interests in UK residential property through offshore companies. In recent years, the UK government has...more

Inheritance Tax Reform passed – Germany misses chance to tame Tax-Bureaucracy for Family Owned Businesses

by Bryan Cave on

Bryan Cave’s Tax law expert Stefan Skulesch: “Last minute solution with flaws will continue to impede company successions in Germany” - On 14 October 2016 the Bundesrat (the upper house of the German parliament) has...more

Proposed New UK Penalties Regime Precipitated by CRS

by Proskauer - Tax Talks on

Many people will be familiar with the information gathering and reporting requirements the OECD’s Common Reporting Standard (“CRS”) places on financial institutions. The first exchanges of information between tax authorities...more

Successfully Selling Your Business: 4 Tips – No Matter the Buyer

by Gray Reed & McGraw on

Among the growing number of business owners looking to sell their business, JR and Sue Ellen Pawlenty are in the market to sell their company Pawlenty Energy. Recently Tilting the Scales highlighted Successfully Selling Your...more

UK Residential Property Tax Reforms Increase IHT Liabilities

by McDermott Will & Emery on

The UK Government has published a consultation document and draft legislation relating to the reforms of UK residential property taxation that are due to take effect from 6 April 2017. The new rules mean that most UK...more

[Webinar] U.S. Tax and Estate Planning for Foreign Persons - Meritas Capability Webinar - September 27th - 1:00p.m. U.S. CDT

Many successful people come to the United States from other countries, either permanently or on study or work assignments that are intended to last just for a few years. These people may earn income in the United States and...more

Further Changes Announced to the Non-Domiciles Regime

by McGuireWoods LLP on

On 19 August 2016, the UK Government published a new consultation paper together with draft legislation which will affect changes to the non-domiciles (“non-doms”) regime in the UK. The proposals will be legislated...more

The Hidden Cost Of “Going Home” — the Expatriation Tax for Long-Term Permanent Residents Who Return to Their Home Countries

by Garvey Schubert Barer on

People immigrate to the United States for many different reasons. Many come here for work reasons and, somewhere along the way, obtain permanent resident status, otherwise known as holding a “green card.” They may work in the...more

Life Insurance and Estate Planning

Life insurance can play an important role in estate planning. It is important to understand the uses and purposes of life insurance and the tax consequences of owning a policy and receiving a death benefit....more

Paradox of Mental Incapacity in State Estate Tax: How Moving Your Elderly Parent from Florida May Generate an Unexpected Estate...

by Cole Schotz on

It is a difficult enough for families to come to grips with having to care for an elderly parent that may no longer be able to live on their own. After coming to terms with this unfortunate reality, the next steps often...more

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