Generates an estate tax discharge upon the recording of a statement by the executor or other estate representative that the value of the decedent’s gross estate does not require a state or federal tax filing.
Provides that charitable organizations with a gross income of one million dollars ($1,000,000) or less can meet the required reporting and records requirements by providing either an IRS Form 900 or other approved financial statements.
Increases the net taxable estate exemption to four million dollars ($4,000,000) for deaths that occur on or after January 1, 2026.
Increases the net taxable estate exemption to four million dollars ($4,000,000) for deaths that occur on or after January 1, 2026.
Increases the net taxable estate exemption to four million dollars ($4,000,000) for deaths that occur on or after January 1, 2026.
Increases the net taxable estate exemption to $3,600,000 on January 1, 2026 and increases the exemption by $1,000,000 on January 1, 2027, and every year thereafter.
Increases the federal adjusted gross income threshold for modification for taxable social security income. Amends references to federal adjusted gross income as pertains to modification of taxable retirement income from certain pension plans or annuities.
Exempts the sale of Bitcoin from state income tax, if such sale is valued at less than one thousand dollars ($1,000).
Increases the LLC organization fee to $500. Exempts the LLC from filing an annual tax return, paying the minimum tax and obtaining a letter of good standing from the division of taxation in order to dissolve.
Creates new tax on gains from sale or exchange of real property held for short periods of time, 6 years or less, establishes a comprehensive framework to calculate and implement enforcement and provides imprisonment and/or fines for those who evade taxes.