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Know your numbers: A summary of 2017 tax rates
By Keith Grissom on January 26, 2017 at 9:23 AM

Businesswoman stacking coinsThe following is a general overview of the estate, gift, generation-skipping transfer (GST) and basic income tax rates for 2017.

Estate tax: Generally, a person dying between Jan. 1, 2017 and Dec. 31, 2017, may be subject to an estate tax, with an applicable exclusion amount of $5.49 million (increased from $5.45 million in 2016). The top marginal rate remains 40 percent.

Gift tax: The lifetime gift tax exemption for gifts made during 2017 is $5.49 million. The top marginal rate remains 40 percent. The gift tax annual exclusion amount remains at $14,000.

GST tax: The GST tax exemption amount, which can be applied to generation-skipping transfers (including those in trust) during 2017, is $5.49 million. The top marginal rate remains 40 percent.

Income Tax:

Highest marginal ordinary income tax rate

39.6 percent*

Highest capital gains rate (excluding certain assets):

20 percent

Highest qualified divided rate

20 percent

*This may also be subject to a net investment income tax of 3.8 percent on unearned income in excess of modified adjusted gross income threshold. In addition, a 0.9 percent additional Medicare tax applies to earnings above certain amounts.

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