Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2025 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
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.
Publication Date: June 2023
Designed For
Attorneys, CPAs, and Enrolled Agents.
Topics Covered
- Review of Federal Estate Tax
- History of State Level Estate Tax
- Survey of State Level Estate Tax
- Survey of State Level Inheritance Tax
- States and Portability
- Return Preparation and Planning
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
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
Basic understanding of state level estate tax returns.
Advance Preparation
None
Instructor
Klaralee R. Charlton
Klaralee Charlton is a Partner at 3i Law in Denver, Colorado. She practices fiduciary tax, estate administration, and business transactional law. As part of her practice, she guides clients through the process of administering a loved one’s estate including the collection, valuation, management and transfer of assets including financial accounts, real estate, and business interests with a focus on minimizing estate and income tax liability. Klaralee also works closely with trustees of ongoing trusts to ensure compliance and prepares clients’ fiduciary income tax returns annually.
Klaralee has written and lectured on topics including estate and gift tax, fiduciary income tax reporting and U.S. regulations governing the valuation of small family businesses. She is an active member of the Colorado Bar Association, Tax Section and Adjunct Profession at the University of Denver, Graduate Tax Program.
She earned her J.D. in 2011 from the University of Utah, S.J. Quinney College of Law, her LL.M. in Tax Law from the University of Denver in 2013, and her B.A. in political science in 2009 from Bryn Mawr College. She is admitted to practice in both Colorado and Montana.