Section 11.21 State Taxes
| Library | Trusts and Powers 2013 Supp |
D. (§11.21) State Taxes
Missouri has no gift tax and, since 1981, no inheritance tax. Missouri’s estate tax, § 145.011, RSMo 2000, consists of an amount equal to the maximum credit for state death taxes allowed by I.R.C. § 2011. Consequently, the treatment of transfers to minors for federal estate tax purposes will flow through to the Missouri estate tax. But under the EGTRRA, with the phase out of the state death tax credit, for decedents dying in 2005 to 2010, Missouri estate taxes will be zero. The...
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