Family Owned Business Blog
Ater Wynne Oregon Attorneys at Law
The Governor signed into a law a bill that directs the Oregon Department of Revenue to conduct a tax amnesty program. Amnesty will be available for any inheritance tax return which had an original due date prior to January 1, 2008.
Oregon disconnected from the current federal law and calculates its inheritance tax under the prior federal law which exempts $1,000,000 from inheritance tax. Oregon does recognize the marital deduction and allows the transfer of an estate to the surviving spouse (or registered domesic partner) without tax liability.
Oregon inheritance tax is 100% of the state death tax credit allowed by 2000 federal law. Oregon does not allow the calculation of taxable estate after the state death tax deduction.
Family Owned Business Blog
Ater Wynne Oregon Attorneys at Law
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