November 13, 2003 | Read Time: 1 minute
The Estate Tax and Charitable Giving: State-by-State Analysis, by John S. Irons, provides estimates of how much revenue nonprofit organizations would lose if the federal estate tax were repealed. Mr. Irons, senior economic researcher and policy analyst at OMB Watch, an organization in Washington that promotes government accountability and citizen participation, writes that if the estate tax had not been in place in 2001, charitable giving, through both bequests and donations given during donors’ lifetimes, would have decreased by an estimated $10-billion. Using the same hypothetical example, the report calculates how much each state would have lost and the average losses for charities in those states. Currently, only the value of an estate in excess of $1-million is subject to tax. The exemption will gradually increase to $3.5-million in 2009 before being repealed altogether in 2010. The estate tax is scheduled to be reinstated in 2011.
Publisher: OMB Watch, 1472 Connecticut Avenue, N.W., Washington, D.C. 20009-1171; (202) 234-8494; fax (202) 234-8584; http://www.ombwatch.org; 7 pages; free.
