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 As shown, the 2001 tax act would have repealed the estate tax for one year (2010) and would then have readjusted it in 2011 to the year 2002
Poll tax (Great Britain) Poll tax (Great Britain) The Community Charge, commonly known as the poll tax, was a system of taxation introduced in replacement of domestic rates in Scotland from 1989, prior to its introduction in England and Wales from 1990. It provided for a single flat-rate per-capita tax on every adult, at a rate set by the local authority. The charge was replaced by Council Tax in 1993, two years after its abolition was announced. The abolition of the rating system of taxes (based on the notional rental value of a house) to fund local government had been unveiled by Margaret Thatcher