Estate tax in the United States maximum allowable credit is $2 million for that year, so the taxable value is therefore $1.5 million. Since it is 2006, the tax rate on that $1.5 million is 46%, so the total taxes paid would be $690,000. Each beneficiary will receive $1,000,000 of untaxed inheritance and $405,000 from the taxable portion of their inheritance for a total of $1,405,000. This means the estate would have paid a taxable rate of 19.7%. As shown, the 2001 tax act would have repealed the estate tax for one year (2010) and would then have readjusted it in 2011 to the year 2002
Horse racing in Great Britain betting shops. There are two main forms of horse racing in Great Britain. Collectively, the above racing is often referred to as racing "under rules", since there is another form of racing which is run on an altogether more informal and "ad hoc" basis, known as point-to-point racing. Point-to-point is a form of steeplechasing for amateur riders. All the above forms of the sport are run under the auspices of the governing and regulatory body for horse racing in Great Britain, the British Horseracing Authority. with the exception of point-to-pointing which is administered by the Point-to-Point Authority with the BHA