A History of Federal Estate, Gift, and Generation-Skipping Taxes

A History of Federal Estate, Gift, and Generation-Skipping Taxes

Date: August 9, 2001
Creator: Luckey, John R
Description: In this report, the history of the federal transfer taxes, has been divided into four parts: (1) the federal death and gift taxes utilized in the period 1789 to 1915; (2) the development of the modern estate and gift taxes from 1916 through 1975; (3) the creation and refinement of a unified estate and gift tax system, supplemented by a generation-skipping transfer tax; and (4) the phase out and repeal of the estate and generation-skipping taxes, with the gift tax being retained as a device to protect the integrity of the income tax.
Contributing Partner: UNT Libraries Government Documents Department
Estate and Gift Taxes: Economic Issues

Estate and Gift Taxes: Economic Issues

Date: January 19, 2006
Creator: Gravelle, Jane G & Maguire, Steven
Description: The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P.L. 107-16) repeals the estate tax in 2010. During the phase-out period, the new law increases the exempt amount to $3.5 million by 2009 ($1.5 million in 2005), lowers the top rate to 45% by 2007 (the top rate in 2005 is 47%), and repeals the federal credit for state death taxes in 2005. The federal gift tax remains though the rate is reduced to the top personal income tax rate (35% in 2005). After repeal of the estate tax, carryover basis replaces step-up in basis for assets transferred at death. The legislation includes an exemption from carryover basis for capital gains of $1.3 million (and an additional $3 million for a surviving spouse). However, the estate tax provision in EGTRRA automatically sunsets December 31, 2010.
Contributing Partner: UNT Libraries Government Documents Department
How Unanimous Consent Agreements Regulate Senate Floor Action

How Unanimous Consent Agreements Regulate Senate Floor Action

Date: April 30, 2003
Creator: Beth, Richard S
Description: None
Contributing Partner: UNT Libraries Government Documents Department
A History of Federal Estate, Gift, and Generation-Skipping Taxes

A History of Federal Estate, Gift, and Generation-Skipping Taxes

Date: April 9, 2003
Creator: Luckey, John R
Description: In this report, the history of the federal transfer taxes, has been divided into four parts: (1) the federal death and gift taxes utilized in the period 1789 to 1915; (2) the development of the modern estate and gift taxes from 1916 through 1975; (3) the creation and refinement of a unified estate and gift tax system, supplemented by a generation-skipping transfer tax; and (4) the phase out and repeal of the estate and generation-skipping taxes, with the gift tax being retained as a device to protect the integrity of the income tax.
Contributing Partner: UNT Libraries Government Documents Department
Federal Estate, Gift, and Generation-Skipping Taxes: A Description of Current Law

Federal Estate, Gift, and Generation-Skipping Taxes: A Description of Current Law

Date: January 29, 2003
Creator: Luckey, John R
Description: None
Contributing Partner: UNT Libraries Government Documents Department
Estate and Gift Taxes: Economic Issues

Estate and Gift Taxes: Economic Issues

Date: January 3, 2005
Creator: Gravelle, Jane G & Maguire, Steven
Description: The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P.L. 107-16) repeals the estate tax in 2010. During the phase-out period, the new law increases the exempt amount to $3.5 million by 2009 ($1.5 million in 2005), lowers the top rate to 45% by 2007 (the top rate in 2005 is 47%), and repeals the federal credit for state death taxes in 2005. The federal gift tax remains though the rate is reduced to the top personal income tax rate (35% in 2005). After repeal of the estate tax, carryover basis replaces step-up in basis for assets transferred at death. The legislation includes an exemption from carryover basis for capital gains of $1.3 million (and an additional $3 million for a surviving spouse). However, the estate tax provision in EGTRRA automatically sunsets December 31, 2010.
Contributing Partner: UNT Libraries Government Documents Department
Federal Estate, Gift, and Generation-Skipping Taxes: A Description of Current Law

Federal Estate, Gift, and Generation-Skipping Taxes: A Description of Current Law

Date: January 15, 2002
Creator: Luckey, John R
Description: None
Contributing Partner: UNT Libraries Government Documents Department
501(c)(4)s and the Gift Tax: Legal Analysis

501(c)(4)s and the Gift Tax: Legal Analysis

Date: August 10, 2012
Creator: Luckey, John R. & Lunder, Erika K.
Description: This report discusses whether substantial donations to tax-exempt 501(c)(4) organizations are subject to the federal gift tax.
Contributing Partner: UNT Libraries Government Documents Department
Federal Estate, Gift, and Generation-Skipping Taxes: A Description of Current Law

Federal Estate, Gift, and Generation-Skipping Taxes: A Description of Current Law

Date: January 4, 2008
Creator: Luckey, John R.
Description: This report contains an explanation of the major provisions of the federal estate, gift, and generation-skipping transfer taxes. The discussion divides the federal estate tax into three components: the gross estate, deductions from the gross estate, and computation of the tax, including allowable tax credits. The federal estate tax is computed through a series of adjustments and modifications of a tax base known as the "gross estate." Certain allowable deductions reduce the gross estate to the "taxable estate," to which is then added the total of all lifetime taxable gifts made by the decedent. The tax rates are applied and, after reduction for certain allowable credits, the amount of tax owed by the estate is reached.
Contributing Partner: UNT Libraries Government Documents Department
A History of Federal Estate, Gift, and Generation-Skipping Taxes

A History of Federal Estate, Gift, and Generation-Skipping Taxes

Date: January 3, 2008
Creator: Luckey, John R.
Description: Three primary categories of legislation pertaining to transfer taxes have been introduced in the 110th Congress. As noted above, the repeal of the estate and generation-skipping taxes is not permanent. One category would make the repeal permanent. (See, H.R. 411 and H.R. 2380). Another category would accelerate the repeal of these transfer taxes. (See, H.R. 25, H.R. 1040, H.R. 1586, H.R. 4042, S. 1025, S. 1040, and S. 1081). The third would reinstate these taxes at lower rates and/or in a manner more considerate of family-owned business. (See, H.R. 1928, H.R. 3170, H.R. 3475, H.R. 4172, H.R. 4235, H.R. 4242, and S. 1994). In this report, the history of the federal transfer taxes has been divided into four parts: (1) the federal death and gift taxes used between 1789 and 1915; (2) the development, from 1916 through 1975, of the modern estate and gift taxes; (3) the creation and refinement of a unified estate and gift tax system, supplemented by a generation-skipping transfer tax; and (4) the phaseout and repeal of the estate and generation-skipping taxes, with the gift tax being retained as a device to protect the integrity of the income tax.
Contributing Partner: UNT Libraries Government Documents Department
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