Preparation of State Level Estate Tax Returns (Completed)

Date: Wednesday, June 23, 2021
Instructor: Klaralee R. Charlton
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC
2 hours Estate Planning for CFP

In addition to federal estate tax liability, nineteen states impose some form of estate or inheritance tax. Clients residing in these states or simply owning property in these states may have to file a state level estate tax return even if their gross estate is far less than the federal estate tax exemption. This course will familiarize practitioners with the various taxing methods in states assessing state level estate and inheritance tax and demonstrate the typical calculations required for accurate preparation of these state level returns. Attendees should have a general familiarity with gift and estate tax.

Who Should Attend
Attorneys, CPAs, and Enrolled Agents.

Topics Covered

  • Overview of taxing methods in the nineteen states applying state level estate or inheritance tax
  • Explanation of calculation methods used by states assessing state level estate or inheritance tax
  • Samples of state level estate tax returns to illustrate the comparison of the state level tax calculations compared to the federal estate tax methods
  • Planning techniques to minimize state level estate and inheritance tax

Learning Objectives

  • Describe the state level estate and inheritance tax methods applied in the nineteens states which assess such tax against residents and property owners
  • Identify the differences in the calculation of state based estate tax in comparison to federal estate tax
  • Identify estates subject to state level estate or inheritance tax reporting
  • Recognize and analyze the proper reporting techniques for clients' estates subject to state level estate tax
  • Identify how to recommend opportunities to minimize tax for clients subject to state level estate tax

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of state level estate tax returns.

Advance Preparation
None

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