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Local News
9:16 am
Thu March 6, 2014

Raising Estate Exemption in Maryland

Credit Don Rush

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.

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