Taxed to Death
Fourteen states and D.C. levy estate taxes. Taxes range from 12 percent on estates of $2 million and above in Connecticut and Maine to 16 percent on assets of $675,000 and up in New Jersey.
Seven states levy inheritance taxes ranging from 9.5 percent
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on amounts over $1.25 million in Tennessee to 18 percent on amounts over $10,000 in Nebraska.
Data from the Tax Foundation on state migration show that states with an estate tax in 2013 had $92.7 billion in net outflows of AGI from 2000 through 2010. States with an inheritance tax had net outflows of $22.8 billion from 2000 to 2010.
Maryland (which together with New Jersey has both an inheritance tax and an estate tax) lost $5.5 billion in AGI from 2000-2010. Almost $3 billion went out to its four neighboring states.
