Form Met 1e Draft - Application For Extension Of Time To File The Maryland Estate Tax Return With Instructions Page 2
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4WORKSHEET TO CALCULATE ESTIMATED CREDIT
Form MET 1E
Rev. 07/11
FOR STATE DEATH TAXES
1.
Estimated taxable estate (line 3 from Section II) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ __________________
2.
Less $60,000 adjustment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ __________________
(60,000.00)
3.
Estimated Adjusted Taxable Estate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ __________________
Use Table B and lines 4 through 8 below to compute estimated Maximum Credit for State Death Taxes
From the Estimated Adjusted Taxable Estate
Table B – Computation of Maximum Credit for State Death Taxes
(1)
(2)
(3)
(4)
(1)
(2)
(3)
(4)
Adjusted taxable
Adjusted taxable
Credit on amount
Rate of credit on
Adjusted taxable
Adjusted taxable
Credit on amount
Rate of credit on
estate equal to or
estate less
in column (1)
excess over
estate equal to or
estate less than
in column (1)
excess over
more than –
than –
amount in
more than
amount in
column (1)
column (1)
(Percent)
0
$40,000
0
None
2,040,000
2,540,000
106,800
8.0
$40,000
90,000
0
0.8
2,540,000
3,040,000
146,800
8.8
90,000
140,000
$400
1.6
3,040,000
3,540,000
190,800
9.6
140,000
240,000
1,200
2.4
3,540,000
4,040,000
238,800
10.4
240,000
440,000
3,600
3.2
4,040,000
5,040,000
290,800
11.2
440,000
640,000
10,000
4.0
5,040,000
6,040,000
402,800
12.0
640,000
840,000
18,000
4.8
6,040,000
7,040,000
522,800
12.8
840,000
1,040,000
27,600
5.6
7,040,000
8,040,000
650,800
13.6
1,040,000
1,540,000
38,800
6.4
8,040,000
9,040,000
786,800
14.4
1,540,000
2,040,000
70,800
7.2
9,040,000
10,040,000
930,800
15.2
10,040,000
- - - - - - -
1,082,800
16.0
4.
Estimated gross federal tax using the estimated taxable estate including
gifts and Table A from the federal Form 706 instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ __________________
(
)
5.
Unified Credit of $345,800 less estimated adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ __________________
6.
Subtract line 5 from line 4 (do not enter less than zero) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ __________________
If line 6 is zero, STOP here. The estimated Maryland estate tax is zero.
Otherwise, continue to line 7.
7.
Estimated state death tax credit. Calculate the credit using Table B above
and the Estimated Adjusted Taxable Estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ __________________
8.
Enter the lesser of line 6 or line 7. This is the estimated allowable federal credit
for state death taxes. Enter on line 7 in Section II of this application. . . . . . . . . . . . . . . . . . . .
$ __________________
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