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...
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