Free estate tax calculator
Enter the gross estate value and your state — this estate tax calculator applies the 2024 federal $13.61M exemption and the flat 40% rate to show the federal tax due and effective rate, updated live, as you type.
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Results are estimates. Consult a professional.
How the estate tax calculator works
The federal estate tax applies to the transfer of a deceased person's taxable estate above the applicable exclusion amount. For 2024, each individual has a lifetime federal estate and gift tax exemption of $13.61 million — meaning only estates exceeding this threshold owe any federal estate tax. The tax applies only to the amount above the exemption, at a flat 40% rate. Married couples can effectively double the exemption through portability, allowing a surviving spouse to use any unused exemption from the deceased spouse.
Worked example: $20 million estate, single decedent
A single individual dies in 2024 with a gross estate of $20,000,000 (comprising real estate, investments, and business interests). Allowable deductions total $500,000 (debts and funeral costs), leaving a taxable estate of $19,500,000. The 2024 federal exemption is $13,610,000.
State estate taxes and exemption amounts
Twelve states plus Washington D.C. impose their own estate tax, often with much lower exemptions than the federal level. Oregon has the lowest state exemption at $1 million — meaning estates above $1M owe Oregon estate tax even if no federal estate tax is due. An estate can owe both federal and state estate tax simultaneously. Note: six states also have a separate inheritance tax (Iowa, Kentucky, Maryland, Nebraska, New Jersey, Pennsylvania) — a tax on the heirs rather than the estate itself.
| State | Estate Tax Exemption (2024) | Top Rate | Notes |
|---|---|---|---|
| Oregon | $1,000,000 | 16% | Lowest exemption in the US |
| Massachusetts | $2,000,000 | 16% | No portability between spouses |
| Rhode Island | $1,733,264 | 16% | Indexed for inflation |
| Minnesota | $3,000,000 | 16% | No portability |
| Illinois | $4,000,000 | 16% | No portability |
| Vermont | $5,000,000 | 16% | Portability not available |
| Washington | $2,193,000 | 20% | Highest state rate; indexed |
| Maryland | $5,000,000 | 16% | Also has inheritance tax |
| New York | $6,940,000 | 16% | Cliff effect above 105% of exemption |
| Hawaii | $5,490,000 | 20% | Portability available |
| Connecticut | $13,610,000 | 12% | Matches federal exemption (2024) |
| D.C. | $4,528,800 | 16% | No portability |
Source: Tax Foundation, State Estate Tax Rates 2024; state Department of Revenue publications. Exemptions are per individual and change annually. Verify current figures with a local estate attorney.
Tips for estate tax planning
The federal estate tax exemption is scheduled to sunset at the end of 2025 under the Tax Cuts and Jobs Act (TCJA). Unless Congress acts, the exemption will revert to approximately $7 million per person (inflation-adjusted from the pre-TCJA $5M baseline) starting January 1, 2026. This makes proactive planning before year-end 2025 especially important for high-net-worth individuals.
- Use annual gift tax exclusions now — In 2024, you can give up to $18,000 per recipient per year ($36,000 per couple) without gift tax or using any of your lifetime exemption. Systematic gifting over many years can move significant assets out of your estate tax-free.
- Consider irrevocable trusts before the TCJA sunset — Assets transferred to an irrevocable trust (such as a Spousal Lifetime Access Trust or Irrevocable Life Insurance Trust) before December 31, 2025 use today's higher $13.61M exemption. IRS guidance (Notice 2019-15) confirms the IRS will not 'claw back' gifts made under the higher exemption if it later drops.
- File a portability election for married couples — When one spouse dies, the surviving spouse should file Form 706 to elect portability and preserve the deceased spouse's unused exemption (DSUE). This must be done within nine months of death (with a six-month extension available), even if no estate tax is owed.
- Get a qualified appraisal for illiquid assets — Business interests, real estate, and collectibles must be professionally appraised to establish fair market value for estate tax purposes. A qualified appraisal by a certified appraiser is required by IRS regulations and can also support valuation discounts (minority interest, lack of marketability) that legitimately reduce the taxable estate.
- Plan for state estate tax separately — If you live in or own property in a state with an estate tax, plan for that threshold separately — it can be as low as $1M. Domicile planning, state-specific trusts (like a Credit Shelter Trust), and charitable bequests to reduce the taxable estate below the state threshold can save substantial state taxes even when no federal estate tax is owed.
Accuracy and limitations
This calculator estimates the federal estate tax liability based on a simplified model: gross estate minus deductions equals the taxable estate, and the 40% rate applies to the amount exceeding the 2024 exemption of $13.61 million. It does not account for the unlimited marital deduction (which allows an unlimited tax-free transfer to a US citizen spouse), charitable deductions, qualified family-owned business interests (QFOBI), special use valuation for farms and small businesses, or the generation-skipping transfer (GST) tax.
Estate and gift tax law is among the most complex areas of US tax law. The TCJA exemption sunset, portability elections, trust structures, valuation discounts, and state-level taxes all require expert guidance. This calculator is intended to illustrate the scale of potential estate tax exposure — not to substitute for legal and tax advice from a qualified estate planning attorney and CPA.
Estate tax terms defined
About this estate tax calculator
This calculator runs entirely in your browser — nothing you enter is sent to any server. It estimates US federal estate tax liability for the 2024 tax year using the $13.61M exemption and 40% flat rate above that threshold. State estate taxes are discussed in the reference table but not automatically calculated, as they vary significantly by state.
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