2018 Federal and Illinois Estate, Gift, and Generation Skipping Transfer (GST) Tax Exemption Amounts
The 2018 Federal estate tax, gift tax, and generation skipping transfer (GST) tax exemption amounts are $11,180.00.00.
The 2018 Illinois estate tax exemption amount remains $4,000,000.00, the same amount as 2017. Illinois does not have a gift tax although lifetime gifts [adjusted taxable gifts (as defined for Federal estate tax return purposes)] are included in the calculation to determine the amount of the Illinois estate tax due upon death. Illinois does not impose a GST tax.