Md. Senate OKs Increase In Estate Tax Exemption

Law360, New York (March 20, 2014, 3:45 PM EDT) -- Maryland lawmakers are close to raising the state's estate tax exemption after the Senate passed a bill Thursday that would gradually increase the level at which a decedent would be subject to the tax from $1 million to $4 million over the next four years, before aligning with the level set in the federal tax code.

Senators voted 36-10 in favor of the bill, which will now be sent to Gov. Martin O'Malley for his consideration. The Maryland House of Delegates overwhelmingly supported the change earlier...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.