If the value of a person’s net estate exceeds the federal limit of $11.58 million per person, they may be subject to an estate tax that can be as high as 40% of their estate. However, even if their estate does not meet the federal limit, they may still be subject to a state estate tax. Thirteen states and the District of Columbia have a state estate tax, and each state sets its own limit of assets excluded from the estate tax.
The states with a state estate tax are
- District of Columbia,
- Hawaii, Illinois,
- New York,
- Rhode Island,
The limits on assets excluded from the state estate tax range from $1 million to $5.74 million, as of the time this information was written.