FARM BUSINESS NEWS
Senior Partners - 10
Elizabeth Williams DTN Special Correspondent
Fri Nov 8, 2013 10:43 AM CST

INDIANOLA, Iowa (DTN) -- Congress relieved many farm families by raising the federal estate tax exemption late last year. The bad news is that 13 states still impose their own version of hell on earth in estate taxes.

At the federal level, estates as large as $5.34 million per individual or $10.68 million per couple can pass free of taxes in 2014, and future years are indexed for inflation. But farmers in seven states can be shocked with steep state estate taxes because their exemption is $1 million or less: New Jersey, Minnesota, Maryland, Massachusetts, New York, Oregon and Rhode ...

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