The federal estate tax is no longer a concern for many individuals and families including the most affluent who are seeking to avoid paying taxes. The 2015 estate tax exclusion amount is $5,430,000 and any unused estate tax exclusion amounts of a deceased spouse can be carried over to the surviving spouse. The combined exclusion amount for married couples is now a whopping $10,860,000.
Sadly for Rhode Islanders, it’s a different story:
Do not die in Rhode Island. The Rhode Island 2015 exclusion amount is $1,500,000 and the top rate is 16%. Also, any unused estate tax exclusion amounts of a deceased spouse cannot be carried over to the surviving spouse.