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BIPARTISAN BILLS COULD EASE IL’s ESTATE TAX –

BIPARTISAN BILLS COULD EASE IL’s ESTATE TAX – A pair of bills introduced in the Illinois General Assembly could ease Illinois farmers’ tax burden when a family member dies. The bills would tie the state’s estate tax level to the federal estate tax level which is currently set at $11.4 million. Illinois currently taxes estates valued at $4 million or more, roughly the value of 500 acres of farmland. Illinois is one of 17 states, plus Washington, D.C., that still collects an estate tax. (IllinoisPolicy.org)

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