4969 US Highway 42 • Suite 2100 • Louisville, KY 40222
502-895-6644
502-897-9080

Smiling family with daughter (10-12) on beachIn 2001,President George W. Bush signed the Economic Growth and Tax Reconciliation Act (EGTRRA) into law. Among the many changes EGTRRA made to estate tax laws, it began the phaseout of the federal estate tax credit for state estate taxes paid. Prior to the creation of EGTRRA, most states relied on a sponge tax that set the states estate tax equal to the amount of the federal estate tax credit for state estate taxes.

May 14, 2015