First, estate taxes are due only on the portion of an estate's value that exceeds the exemption level; at the 2015 exemption level of $5.43 million, a $6 million estate would owe estate taxes on $570,000 at most.. Today, 99.8 percent of estates owe no estate tax at all, according to the Joint Committee on Taxation. [3] Only the estates of the wealthiest 0.2 percent of Americans -- roughly 2 out of every 1,000 people who die -- owe any estate tax.
However, Studebaker's financial problems were worse than the Packard executives thought. The Packard marque was phased out, and the company returned to the Studebaker Corporation name in 1962. The South Bend plant ceased production on December 20, 1963, and the last Studebaker automobile rolled off the Hamilton, Ontario, Canada, assembly line on March 16, 1966.
But this Swedish manufacturer has also brought you refrigerators, freezers, washers, and more under its own nameplate and brands like Frigidaire, Gibson, Kelvinator, Tappan, and White Westinghouse. Proving the Kevin Bacon theory, Electrolux is also connected to Sears: It makes Kenmore dishwashers and high-end Kenmore Pro appliances. Viking sounds Scandinavian, too, but the company, known for its pro-style ranges and built-in refrigerators, is actually based in Greenwood, Miss.