Business, 15.07.2020 02:01 paigemeyers6

Suppose Vince dies this year with a gross estate of $25 million and no adjusted prior gifts. Assume the estate qualifies for the martial deduction. Calculate the amount of estate tax due (if any) under the following alternative conditions. (Refer to Exhibit 25-1 and Exhibit 25-2.)
Exhibit 25-2 The Exemption Equivalent
Year of Transfer Gift Tax Estate Tax
1986 $500,000 $500,000
1987-1997 600,000 600,000
1998 625,000 625,000
1999 650,000 650,000
2000-2001 675,000 675,000
2002-2003 1,000,000 1,000,000
2004-2005 1,000,000 1,500,000
2006-2008 1,000,000 2,000,000
2009-2010* 1,000,000 3,500,000
2011 5,000,000 5,000,000
2012 5,120,000 5,120,000
2013 5,250,000 5,250,000
2014 5,340,000 5,340,000
2015 5,430,000 5,430,000
2016 5,450,000 5,450,000
2017 5,490,000 5,490,000
2018 11,180,000 11,180,000
Required:
Vince leaves his entire estate to his spouse, Millie.
Vince leaves $10 million to Millie and the remainder to charity.
Vince leaves $10 million to Millie and the remainder to his son, Paul.
Vince leaves $10 million to Millie and the remainder to a trust whose trustee is required to pay income to Millie for her life and the remainder to Paul
(For all requirements, enter your answer in millions rounded to 3 decimal places. Leave no answer blank. Enter zero if applicable.)
A. Amount of estate tax
B. Amount of estate tax
C. Amount of estate tax
D. Amount of estate tax

Answers: 2

Show answers

Other questions on the subject: Business

Business, 21.06.2019 20:30, johnisawesome999

Licensing is perhaps the easiest method of entering into international trade. another method of entering international trade, which can be relatively low risk, is which opens several levels of involvement to company

Answers: 2

continue

Business, 21.06.2019 21:30, tyreque

Part i a company's cereal is not selling well. create a 10-15-question survey that measures customers' preferences for the company's cereal product. then, answer the following questions: how many scale items will you put in the survey? justify your answer. will you use multiple-choice questions? why or why not? how many scale points will you use in the survey? justify your answer. what data type will be used in the survey? justify your answer. part ii as a second part of this assignment, create a set of survey questions, assuming that you sell cars. you are attempting to measure how customers perceive the quality of the cars that you sell. create three survey questions with simple category scales. justify why you selected those questions and scales. create three survey questions with multiple-choice, single-response scales. justify why you selected those questions and scales. create three survey questions with multiple-choice, multiple-response scales. justify why you selected those questions and scales. create three survey questions with likert scale summated ratings. justify why you selected those questions and scales.

Answers: 1

continue

Business, 22.06.2019 11:20, jaideeplalli302

You decided to charge $100 for your new computer game, but people are not buying it. what could you do to encourage people to buy your game?

Answers: 1

continue

Business, 22.06.2019 16:10, ilovemusicandreading

The brs corporation makes collections on sales according to the following schedule: 30% in month of sale 66% in month following sale 4% in second month following sale the following sales have been budgeted: sales april $ 130,000 may $ 150,000 june $ 140,000 budgeted cash collections in june would be:

Answers: 1

continue

You know the right answer?

Suppose Vince dies this year with a gross estate of $25 million and no adjusted prior gifts. Assume...