{{ AFP National Site
s

Why the Inheritance Tax has to Go.

July 17, 2014 J,

In Nebraska you pay taxes on what you earn, what you buy, what you own, and at the end of it all – what you choose to give to your family.

Dick Clark of the Platte Institute wrote about the problems with the inheritance tax in the latest rendition of Platte Chat, Nebraska’s Destructive Inheritance Tax.

Here’s the nitty-gritty of the tax:

“Close relatives, such as siblings, children, or grandchildren, are taxed at a modest rate of one percent after the first $40,000. Nieces and nephews are not so fortunate—they are taxed at thirteen percent after the first $15,000. Cousins and other, more distant relations are hit the hardest of all, with an eighteen percent tax assessed after the first $10,000.”

Click here to read Clark’s Platte Chat and see why this tax on families has to go!

Like this post? Chip in $5 to AFP.