Death Tax Compromise?Death Tax Compromise?
As T&E was going to press, the wealth management community was buzzing with reports that Republican and Democratic Senators were working on new estate tax reforms. Kristen French, reporter for T&E 's sister publication, Registered Rep, investigated. She reports that compromise is in the air. Republicans are backing away from permanent repeal. Democrats are entertaining higher exemptions and lower
July 1, 2005
Rorie M. Sherman Editor in Chief
As T&E was going to press, the wealth management community was buzzing with reports that Republican and Democratic Senators were working on new estate tax reforms. Kristen French, reporter for T&E 's sister publication, Registered Rep, investigated. She reports that compromise is in the air. Republicans are backing away from permanent repeal. Democrats are entertaining higher exemptions and lower rates.
Still, the devil is in the details. The Republicans were talking about a $10 million per person exemption with a 15 percent tax rate for what remains in the estate. The Democrats seemed to be more comfortable with an exemption of $3 million to $5 million per person and a tax rate of about 35 percent.
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