ANNAPOLIS, Md. (AP) - Some nonprofit organizations say Maryland's estate tax is driving their wealthy donors out of state during retirement. They support a new bill raising the estate tax exemption to $5.34 million per spouse.
House Speaker Michael Busch testified before the House Ways and Means Committee on this bill Wednesday. Miller filed the bill with dozens of co-sponsors.
The federal exemption is $5.34 million, and Maryland's is $1 million.