Axing the Estate Tax?

Posted Wednesday, February 9, 2011

Embed Audio

Download MP3

When someone dies in Ohio, a six percent tax kicks in for if their estate is valued at $338,000 and anything valued over $500,000 is taxed at seven percent. The new Republican majority in the Ohio legislature says the estate tax should meet the ax: It hurts Ohio's competitiveness because thirty states have no tax and those that do have much higher thresholds to trigger the tax. But in a time of financial woe, is it a smart to scrap a tax that generates $334 million, most of it going to local communities? We'll discuss the pros and cons tomorrow at 9 on 90.3.

Guests

State Rep. Jay Hottinger, 71st District
Mayor Earl Leiken, Shaker Heights
Mayor Lynn McGill, Aurora
Karin Maloney Stifler, Certified Financial Planner