General Assembly Buries the Death Tax!
The Indiana General Assembly took an important step towards economic freedom by passing Senate Bill 293 on the last day of the legislative session. SB 293 immediately reduces the inheritance (death) tax by raising the amount of earnings that are exempted from $100,000 to $250,000 for immediate family members. It will also eliminate the tax by phasing it out over the next ten years starting in 2013.
By 2022, no Hoosier will have to pay a state death tax on the money that is left to them from a deceased loved one. Small business owners and family farmers should especially rejoice since they are often the one’s most adversely affected by this tax.
Together, AFP-Indiana activists sent nearly 1,000 emails to state legislators urging them to eliminate the death tax. Thanks to your help we will finally bury the death tax!