Ultra-Millionaire Tax Act of 2026 imposes a wealth tax on the net value of assets for individuals.

The Ultra-Millionaire Tax Act of 2026 introduces a wealth tax on the net value of assets for individuals. The tax applies to assets exceeding $50 million, with a zero bracket threshold of $50 million and a top bracket threshold of $1 billion. The tax rate is 2% for assets between $50 million and $1 billion, and 3% for assets exceeding $1 billion. The Act also includes provisions for married individuals, nongrantor multibeneficiary trusts, and charitable remainder trusts.

Ultra-Millionaire Tax Act of 2026 imposes a wealth tax on the net value of assets for individuals.

The Ultra-Millionaire Tax Act of 2026 introduces a wealth tax on the net value of assets for individuals. The tax applies to assets exceeding $50 million, with a zero bracket threshold of $50 million and a top bracket threshold of $1 billion. The tax rate is 2% for assets between $50 million and $1 billion, and 3% for assets exceeding $1 billion. The Act also includes provisions for married individuals, nongrantor multibeneficiary trusts, and charitable remainder trusts.