Another State Ditches Its Death Tax While Potential Backdoor Federal Estate Tax Looms

Another State Ditches Its Death Tax While Potential Backdoor Federal Estate Tax Looms

Iowa farmers kill state inheritance tax but could face higher federal levies under proposed federal … [+] backdoor death tax.

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In a sign of the political divide over death taxes, Iowa is repealing its inheritance tax, with a phased-in reduction of the tax bite retroactive to January 1, and full repeal as of January 1, 2025. Abolishing the state inheritance tax was a key priority for…

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