Estate taxes in the United States are imposed by the federal government and by most states. The tax is levied on the estate of a deceased person, and is calculated as a percentage of the value of the estate. In 2015, the federal estate tax exemption was $5.43 million per individual, which means that an estate valued at more than this amount would be subject to tax. The exemption is scheduled to increase to $5.45 million in 2016. Many people believe that the estate tax places an unfair burden on those who have worked hard to accumulate wealth during their lives. However, there are also many people who believe that the estate tax is an important tool for preventing millionaires from dodging taxes.
| Question | Answer |
|---|---|
| Form Name | Form Ls 555 |
| Form Length | 4 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 1 min |
| Other names | California, ls560, UTMA, school form ls 560 |
