Friday, April 26, 2013

LGBT Couples Benefit Greatly From Elimination of Inheritance Tax

Fellow blogger Paul Ogden makes a great point in his blog about the inheritance tax.  LGBT couples might be the biggest winners.

You see, a spouse was previously tax exempt from the inheritance tax.  But since Indiana doesn't recognize gay marriage, even lifelong couples only at best qualified as a friend, and had am enormous tax burden because of it.

Although I sincerely doubt there were any intentions of this law being to help gay couples, in many ways they benefit the most. No longer does it matter who you spent your life with when or comes to the amount of inheritance tax you pay.  A gay couple now pays the same tax treasure as a straight couple does, at least in this area.

That's a win.

Ogden has some interesting math in his big showing just how much the tax could impact a gay couple before.  Make sure you check out his blog for that info, and more details on this story.

Indiana Legislature Set to Hand Same Sex Marriage Advocates Biggest Victory Ever by Eliminating Inheritance Tax

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