Estate Tax Filings by the Numbers
Article
Estate taxes continue to be an important topic as individuals identify their wealth planning goals. With the new administration poised to make changes, take a look at the current state of who’s filing estate tax returns… and where.
Filing Threshold Increasing 1,2
Within the last decade, the filing threshold for estate tax returns has increased by over $4 million.
- $5.34 million in 2015, 2014
- $5.25 million in 2013
- $2.0 million in 2006
- $1.5 million in 2005
But Fewer People Filing
The increased threshold has led to a 73 percent decrease in estate tax returns filed between 2005 and 2015.
- 11,917 filed in 2015
- 11,931 filed in 2014
- 49,050 filed in 2006
- 45,070 filed in 2005
Top Five States that Filed
In both 2014 and 2015, California saw the highest number of estate tax return filings with Florida, New York, Texas and Illinois rounding out the rest of the top five states with the most estate tax return filings.
- California: 2,100 filed
- Florida: 1,300 filed
- New York: 1,100 filed
- Texas: 800 filed
- Illinois: 600 filed
Top Two Assets
Stocks and real estate accounted for more than 50 percent of estate tax decedents’ asset holdings in both 2014 and 2015 with a higher share in stocks and fewer shares in real estate for decedents with assets totaling over $20 million.
