Income Tax Rates for Estates and Trusts

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Income Tax Rates for Estates and Trusts
2007 Federal Estate and Trust Tax Rates
If taxable income is:
The tax is:
Not over $2,150
15% of the taxable income
Over $2,150 but not over $5,000
$322.50 plus 25% of the excess over $2,150
Over $5,000 but not over $7,650
$1,035.00 plus 28% of the excess over $5,000
Over $7,650 but not over $10,450
$1,777.00 plus 33% of the excess over $7,650
Over $10,450
$2,701.00 plus 35% of the excess over $10,450
2007 Federal Tax Rates for Estates and Trusts
The 2007 federal estate and trust tax rates are as follows.
Increased Estate Tax Applicable Exclusion Amount
An estate tax return for a U.S. citizen or resident needs to be filed only if the gross estate exceeds the applicable exclusion amount, listed below.
Applicable Exclusion Amounts
Year
Exclusion Amount
2007 and 2008
$2,000,000
$3,500,000