How much are GST taxes?
When a GST tax is imposed, it is imposed at the highest estate tax rate and is imposed in addition to the estate or gift taxes on transfers. For 2007, generation-skipping transfers are subject to tax at a flat rate of 45%, in addition to the gift or estate tax that will be payable on the transfer. In future years, the maximum GST tax rate will be reduced to match the maximum estate tax rate. This tax is supposed to be repealed at the same time the estate tax is repealed – in 2010.
