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Article: STATE'S ESTATE TAX CHANGE SOCKS WELL-OFF.(BUSINESS)
- Article from:
- The Capital Times
- Article date:
- March 14, 2003
- Author:
CopyrightCOPYRIGHT 2003 Capital Newspapers. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jeff Richgels The Capital Times
By "decoupling" its estate tax laws from federal law, Wisconsin has given the wealthy another reason to flee to warmer tax havens such as Florida.
By decoupling - not matching federal estate tax law changes enacted last year - Wisconsin will end up taking tens of thousands of dollars more in death taxes from those with estates worth $1 million or more.
"I gave a talk on this and I had a person come up to me afterward and say, 'This is the last straw. This is another reason for me to leave the state,' " said Stephen White, an estate planning attorney with Quarles & Brady.
White said many of his ...