Current Death Taxes – Federal and Maryland

Under current law, the Federal estate tax exemption is $5 million. While there may be pressure in Congress in 2013 to lower this exemption amount, it is unlikely to be reduced significantly. In Maryland, the estate tax exemption is $1 million.

Maryland has no inheritance tax for those directly in the family line (for example, parents, children or grandchildren). The tax rate is 10% for all other beneficiaries with the exception of charities.