Estate Tax
TaxesA tax on the transfer of a deceased person's estate, applying only to estates exceeding the federal exemption amount.
Example
Example: The 2026 federal estate tax exemption is approximately $13.61 million per individual ($27.22 million for married couples). An estate worth $15 million would owe tax only on the amount above $13.61 million — roughly $1.39 million taxed at 40% = $556,000. Estates below the exemption owe nothing. Only about 0.1% of estates owe federal estate tax.