27-Jun-08
http://www.taxpolicycenter.org
PRELIMINARY RESULTS
Click on PDF or Excel link to see additional breakdowns for farms and businesses.
Table T08-0143
Senator McCain's Estate Tax Proposal: $5 Million Exemption and 15 Percent Rate
Distribution of Gross Estate and Net Estate Tax By Size of Gross Estate, 2011 1
Size of Gross Estate (millions of 2008
dollars)
Returns
Percent of
Number
Total
Amount
($millions)
Gross Estate
Average ($
thousands)
Percent of
Total
Amount
($millions)
Net Estate Tax
Average ($ Percent of
thousands)
Total
Average Tax
2
Rate
ALL RETURNS
Less than 1.0
1.0 - 2.0
2.0 - 3.5
3.5 - 5.0
5.0 - 10.0
10.0 - 20.0
More than 20.0
All
0
0
0
960
5,930
2,100
1,260
10,250
0.0
0.0
0.0
9.4
57.9
20.5
12.3
100.0
0
0
0
4,949
43,563
30,258
81,452
160,223
n/a
n/a
n/a
5,155
7,346
14,409
64,645
15,631
0.0
0.0
0.0
3.1
27.2
18.9
50.8
100.0
0
0
0
5
523
807
3,547
4,882
n/a
n/a
n/a
5
88
384
2,815
476
0.0
0.0
0.0
0.1
10.7
16.5
72.7
100.0
n/a
n/a
n/a
0.1
1.2
2.7
4.4
3.0
TAXABLE RETURNS
Less than 1.0
1.0 - 2.0
2.0 - 3.5
3.5 - 5.0
5.0 - 10.0
10.0 - 20.0
More than 20.0
All
0
0
0
70
2,020
1,190
820
4,100
0.0
0.0
0.0
1.7
49.3
29.0
20.0
100.0
0
0
0
350
16,294
17,324
57,734
91,702
n/a
n/a
n/a
4,994
8,066
14,558
70,407
22,366
0.0
0.0
0.0
0.4
17.8
18.9
63.0
100.0
0
0
0
5
523
807
3,547
4,882
n/a
n/a
n/a
65
259
679
4,326
1,191
0.0
0.0
0.0
0.1
10.7
16.5
72.7
100.0
n/a
n/a
n/a
1.3
3.2
4.7
6.1
5.3
NON-TAXABLE RETURNS
Less than 1.0
1.0 - 2.0
2.0 - 3.5
3.5 - 5.0
5.0 - 10.0
10.0 - 20.0
More than 20.0
All
0
0
0
890
3,900
920
440
6,150
0.0
0.0
0.0
14.5
63.4
15.0
7.2
100.0
0
0
0
4,599
27,269
12,934
23,718
68,521
n/a
n/a
n/a
5,168
6,992
14,059
53,905
11,142
0.0
0.0
0.0
6.7
39.8
18.9
34.6
100.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-5).
(1) Calendar year. Numbers of returns have been rounded to the nearest multiple of ten. Proposal would raise the effective exemption to $5 million and lower the estate tax rate to
15 percent. The state death tax credit would be repealed and replaced with a deduction. The 5-percent surtax would be repealed.
(2) Average net estate tax liability as a percentage of average gross estate.
27-Jun-08
http://www.taxpolicycenter.org
PRELIMINARY RESULTS
Table T08-0143
Senator McCain's Estate Tax Proposal: $5 Million Exemption and 15 Percent Rate
1
Distribution of Gross Estate and Net Estate Tax By Size of Gross Estate, 2011
Farms and Businesses Under $5 Million2
Size of Gross Estate (millions of 2008
dollars)
Returns
Percent of
Number
Total
Amount
($millions)
Gross Estate
Average ($
thousands)
Percent of
Total
Amount
($millions)
Net Estate Tax
Average ($ Percent of
thousands)
Total
Average Tax
Rate3
ALL RETURNS
Less than 1.0
1.0 - 2.0
2.0 - 3.5
3.5 - 5.0
5.0 - 10.0
All
0
0
0
60
250
310
0.0
0.0
0.0
19.4
80.6
100.0
0
0
0
300
1,752
2,052
n/a
n/a
n/a
5,004
7,006
6,619
0.0
0.0
0.0
14.6
85.4
100.0
0
0
0
0
16
16
n/a
n/a
n/a
0
63
51
0.0
0.0
0.0
0.0
100.0
100.0
n/a
n/a
n/a
0.0
0.9
0.8
TAXABLE RETURNS
Less than 1.0
1.0 - 2.0
2.0 - 3.5
3.5 - 5.0
5.0 - 10.0
All
0
0
0
0
100
100
0.0
0.0
0.0
0.0
100.0
100.0
0
0
0
1
792
793
n/a
n/a
n/a
n/a
7,924
7,935
0.0
0.0
0.0
0.1
99.9
100.0
0
0
0
0
16
16
n/a
n/a
n/a
n/a
158
158
0.0
0.0
0.0
0.0
100.0
100.0
n/a
n/a
n/a
n/a
2.0
2.0
NON-TAXABLE RETURNS
Less than 1.0
1.0 - 2.0
2.0 - 3.5
3.5 - 5.0
5.0 - 10.0
All
0
0
0
60
140
200
0.0
0.0
0.0
30.0
70.0
100.0
0
0
0
299
959
1,258
n/a
n/a
n/a
4,986
6,851
6,291
0.0
0.0
0.0
23.8
76.2
100.0
0
0
0
0
0
0
0
0
0
0
0
0
n/a
n/a
n/a
n/a
n/a
n/a
0.0
0.0
0.0
0.0
0.0
0.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-5).
(1) Calendar year. Numbers of returns have been rounded to the nearest multiple of ten. Proposal would raise the effective exemption to $5 million and lower the estate tax rate to 15
percent. The state death tax credit would be repealed and replaced with a deduction. The 5-percent surtax would be repealed.
(2) Estate tax returns where farm and business assets represent at least half of gross estate and these assets total no more than $5 million.
(3) Average net estate tax liability as a percentage of average gross estate.
27-Jun-08
http://www.taxpolicycenter.org
PRELIMINARY RESULTS
Table T08-0143
Senator McCain's Estate Tax Proposal: $5 Million Exemption and 15 Percent Rate
Distribution of Gross Estate and Net Estate Tax By Size of Gross Estate, 2011 1
Farms and Businesses2
Size of Gross Estate (millions of 2008
dollars)
Returns
Percent of
Total
Number
Amount
($millions)
Gross Estate
Average ($
thousands)
Percent of
Total
Amount
($millions)
Net Estate Tax
Average ($ Percent of
thousands)
Total
Average Tax
Rate3
ALL RETURNS
Less than 1.0
1.0 - 2.0
2.0 - 3.5
3.5 - 5.0
5.0 - 10.0
10.0 - 20.0
More than 20.0
All
0
0
0
60
400
190
220
860
0.0
0.0
0.0
7.0
46.5
22.1
25.6
100.0
0
0
0
300
2,916
2,752
15,167
21,136
n/a
n/a
n/a
5,004
7,291
14,486
68,942
24,577
0.0
0.0
0.0
1.4
13.8
13.0
71.8
100.0
0
0
0
0
20
49
572
641
n/a
n/a
n/a
0
51
256
2,598
745
0.0
0.0
0.0
0.0
3.2
7.6
89.2
100.0
n/a
n/a
n/a
0.0
0.7
1.8
3.8
3.0
TAXABLE RETURNS
Less than 1.0
1.0 - 2.0
2.0 - 3.5
3.5 - 5.0
5.0 - 10.0
10.0 - 20.0
More than 20.0
All
0
0
0
0
130
70
120
320
0.0
0.0
0.0
0.0
40.6
21.9
37.5
100.0
0
0
0
1
1,060
1,066
9,622
11,749
n/a
n/a
n/a
n/a
8,151
15,235
80,183
36,716
0.0
0.0
0.0
0.0
9.0
9.1
81.9
100.0
0
0
0
0
20
49
572
641
n/a
n/a
n/a
n/a
158
694
4,763
2,002
0.0
0.0
0.0
0.0
3.2
7.6
89.2
100.0
n/a
n/a
n/a
n/a
1.9
4.6
5.9
5.5
NON-TAXABLE RETURNS
Less than 1.0
1.0 - 2.0
2.0 - 3.5
3.5 - 5.0
5.0 - 10.0
10.0 - 20.0
More than 20.0
All
0
0
0
60
260
120
100
540
0.0
0.0
0.0
11.1
48.1
22.2
18.5
100.0
0
0
0
299
1,857
1,686
5,545
9,387
n/a
n/a
n/a
4,986
7,142
14,049
55,453
17,384
0.0
0.0
0.0
3.2
19.8
18.0
59.1
100.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-5).
(1) Calendar year. Numbers of returns have been rounded to the nearest multiple of ten. Proposal would raise the effective exemption to $5 million and lower the estate tax rate to 15
percent. The state death tax credit would be repealed and replaced with a deduction. The 5-percent surtax would be repealed.
(2) Estate tax returns where farm and business assets represent at least half of gross estate.
(3) Average net estate tax liability as a percentage of average gross estate.
27-Jun-08
http://www.taxpolicycenter.org
PRELIMINARY RESULTS
Table T08-0143
Senator McCain's Estate Tax Proposal: $5 Million Exemption and 15 Percent Rate
Distribution of Gross Estate and Net Estate Tax By Size of Gross Estate, 2011 1
Returns with any Farm or Business Assets
Size of Gross Estate (millions of 2008
dollars)
Returns
Percent of
Total
Number
Amount
($millions)
Gross Estate
Average ($
thousands)
Percent of
Total
Amount
($millions)
Net Estate Tax
Average ($ Percent of
thousands)
Total
Average Tax
Rate2
ALL RETURNS
Less than 1.0
1.0 - 2.0
2.0 - 3.5
3.5 - 5.0
5.0 - 10.0
10.0 - 20.0
More than 20.0
All
0
0
0
330
3,110
1,430
990
5,850
0.0
0.0
0.0
5.6
53.2
24.4
16.9
100.0
0
0
0
1,686
23,154
20,512
66,773
112,126
n/a
n/a
n/a
5,109
7,445
14,344
67,447
19,167
0.0
0.0
0.0
1.5
20.7
18.3
59.6
100.0
0
0
0
2
242
447
2,831
3,522
n/a
n/a
n/a
5
78
312
2,860
602
0.0
0.0
0.0
0.0
6.9
12.7
80.4
100.0
n/a
n/a
n/a
0.1
1.0
2.2
4.2
3.1
TAXABLE RETURNS
Less than 1.0
1.0 - 2.0
2.0 - 3.5
3.5 - 5.0
5.0 - 10.0
10.0 - 20.0
More than 20.0
All
0
0
0
30
970
740
630
2,370
0.0
0.0
0.0
1.3
40.9
31.2
26.6
100.0
0
0
0
158
8,007
10,828
46,771
65,764
n/a
n/a
n/a
5,267
8,255
14,632
74,240
27,748
0.0
0.0
0.0
0.2
12.2
16.5
71.1
100.0
0
0
0
2
242
447
2,831
3,522
n/a
n/a
n/a
53
250
603
4,494
1,486
0.0
0.0
0.0
0.0
6.9
12.7
80.4
100.0
n/a
n/a
n/a
1.0
3.0
4.1
6.1
5.4
NON-TAXABLE RETURNS
Less than 1.0
1.0 - 2.0
2.0 - 3.5
3.5 - 5.0
5.0 - 10.0
10.0 - 20.0
More than 20.0
All
0
0
0
300
2,140
690
360
3,480
0.0
0.0
0.0
8.6
61.5
19.8
10.3
100.0
0
0
0
1,528
15,147
9,685
20,002
46,362
n/a
n/a
n/a
5,094
7,078
14,036
55,560
13,322
0.0
0.0
0.0
3.3
32.7
20.9
43.1
100.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-5).
(1) Calendar year. Numbers of returns have been rounded to the nearest multiple of ten. Proposal would raise the effective exemption to $5 million and lower the estate tax rate to 15
percent. The state death tax credit would be repealed and replaced with a deduction. The 5-percent surtax would be repealed.
(2) Average net estate tax liability as a percentage of average gross estate.