The current law allows for $5.5 million exemption for individuals and $11 million for married taxpayers. The new law allows for $11 million exemption for individuals and $22 million for married taxpayers.
The new rates are effective January 1, 2018 and ending December 31, 2026.
Here are the current and new tax rates for estate taxes:
| Current Rate | New Rate | |||||
| Taxable Income | Tax Rate | Taxable Income | Tax Rate | |||
| $0 to $2,550 | 15% | $0 to $2,550 | 10% | |||
| $2,551 to $6,000 | 25% | $2,551 to $9,150 | 24% | |||
| $6,001 to $9,150 | 28% | $9,151 to $12,500 | 35% | |||
| $9,151 to $12,500 | 33% | above $12,500 | 37% | |||
| above $12,500 | 39.6% | |||||