Form MET
WORKSHEET TO CALCULATE ESTIMATED CREDIT
1E
FOR STATE DEATH TAXES
Rev. 08/12
1.
Estimated taxable estate (line 3 from Section II) . . . . . . . . . . . . . . . . . . .
$ _____________
(60,000.00)
2.
Less $60,000 adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ _____________
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 tax-
Adjusted tax-
Credit on
Rate of credit
Adjusted tax-
Adjusted tax-
Credit on
Rate of credit
able estate
able estate
amount in
on excess
able estate
able estate
amount in
on excess
equal to or
less than -
column (1)
over amount
equal to or
less than -
column (1)
over amount
more than –
in column
more than –
in column
(1)
(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 $330,800 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.
$ _____________