The actual GST tax is calculated by dividing the taxable amount by 2.818182.So to get the GST tax in 1998.$10,000,000 - total estate5,140,800 - less total tax state and federal211,300 - plus unified credit1,010,000 - less GST exemption 4,060,500 balance totaling the above #sdivide 4,060,500 by 2.818182The GST tax is $1,440,822 for a $10,000,000 taxable estate all going to skip generations.Now this is only exciting if you are lucky enough to be the young heir that gets the 3 million bucks.EG
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra