2024 California Tax Brackets For Trusts And Estates
2024 California Tax Brackets For Trusts And Estates. The top tax rate applicable to estates and living gifts will be subject to a maximum tax rate of 40%. However, the federal estate tax may apply if the inherited amount.
The three other levels are 24% for $2,751 to $9,850; Trusts are taxed similarly to how individuals are , but the key differences lie in whether the trust is a simple trust, complex trust or grantor trust.