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Daily Archives:Wednesday, August 1, 2012

Democrats Drop Estate Tax Change That Would Also Affect Florida

August 1, 2012

When a person dies and the decedent’s assets are transferred to another party, those assets are subject to taxation. The estate tax has been under scrutiny by lawmakers for the past several years. Some politicians want to continue the tax breaks started during the Bush administration; however, the Obama administration is proposing to end the Bush-era cuts on the estate tax, which could affect many in Florida. Now, the U.S. Senate Democrats have decided to eliminate the estate tax language in the bill proposed by Obama….