Update on NH and RI Estate Tax

It looks like most of the NH papers now agree, a NH Estate Tax is on hold. Several new taxes were thrown out, and instead, the legislature will raise user fees. It also appears the proposed capital gains tax will not be approved.

A legislative committee in Rhode Island has proposed raising the estate tax exemption in Rhode Island from $675,000 to $850,000 and index it to inflation. Stay tuned as this is just the first step in a very long process. (By the way- a proposed changes has also been made to tax capital gains at normal income rates.)