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2007 sources of Indiana's revenue. Taxes in Indiana are almost entirely authorized at the state level, although the revenue is used to fund both local and state level government. The state of Indiana's income comes from four primary tax areas. Most state level income is from a sales tax of 7% and a flat state income tax of 3.05%. The state also ...
Australia: Abolished the federal estate tax in 1979, [46] and Australian State inheritance taxes (called death duties) were abolished between 1978 and 1982. In 1985, capital gains tax was introduced to tax capital gains on disposal of all assets. But as death is not treated as a disposal, it is only if and when assets are sold after death that ...
Delaware and Hawaii allowed their taxes to expire after Congress repealed the credit for state estate taxes, but reenacted the taxes in 2010. Exemption amounts under the state estate taxes vary, ranging from the federal estate tax exemption amount or $5.34 million, indexed for inflation (two states) to $675,000 (New Jersey).
Calculating inheritance tax: The calculation of inheritance tax depends on the state’s specific laws and the beneficiary’s relationship to the deceased. For instance, in Pennsylvania, direct ...
The amount that is exempt from taxation, the tax rate, and the heirs who can be taxed vary by state, but exemptions range from $1 million to $5.9 million, according to the Tax Foundation.
The federal estate tax exemption is now permanently indexed for inflation. For 2014, the exemption limit is capped at $5.34 million and the highest federal tax rate an estate would have to pay is 40%.
The following is a list of people executed by the U.S. state of Indiana since its statehood. A total of 21 people convicted of murder have been executed by the state of Indiana in the United States since the reinstatement of the death penalty in 1977. Before 1995, electrocution was the sole method of execution.
When someone dies, states might impose an inheritance tax on money transferred from the decedent's estate to the heirs. Unlike estate taxes, which can be levied at the federal or state level and ...