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Illinois-Estate Tax: Attorney General Updates Fact Sheet for 2014

The Illinois Attorney General has revised its notice regarding Illinois estate tax to reflect changes regarding the tax. For persons dying in 2014, the federal exemption is $5,340,000 ($5,250,000 for 2013) for estate tax purposes, and the Illinois exemption equivalent is $4 million (unchanged from 2013). Computation examples for the estate tax have been updated to reflect those changes.

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