However, the tax itself brought in a relatively small amount of money. Attorneys representing wealthy people who had left the state, also informed officials that a primary reason for doing so was the estate tax.

As a result, it was believed that the tax was costing the state more in lost income tax revenue than it gained in estate tax revenue.

Only a minority of states still have an estate tax.

Philip J. Kavesh
Helping clients with customized estate planning guidance and trust & estate administration for over 44 years.
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