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Asked 2/11/2008

LLC Estate Taxes

If I own a LLC which sole purpose is trading Futures, upon my death, does the LLC owe Estate (death taxes) taxes?

 
 
 
 
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Answer 1/2 - Submitted 2/11/2008

Depends on how much is in there. Right now you only pay estate tax after $1.5million.

 
 

Answer 2/2 - Submitted 7/24/2010

You would have no federal estate tax in 2010. There is not an estate tax in 2010. However, your state may have state death taxes. I would suggest you talk to a good CPA or tax attorney in your state. Thank you.

 
 
 
 
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