When a billionaire resident dies, states reap an average $165 million windfall from estate taxes
10/22/19
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from CNBC,
10/21/19:
A new study finds that states see an average tax bump of $165 million after the death of a billionaire on the Forbes 400 list.
The recent death of David Koch is estimated to mean about $4.17 billion in tax revenues for New York state, where he lived.
The estate tax is essentially a tax imposed on the nation’s richest people upon their death. How to tax the ultra-wealthy is a central issue among Democrats running for president.
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When a billionaire resident dies, states reap an average $165 million windfall from estate taxes
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