Illinois SB0134 amends estate tax rules to include spousal exclusions and credits.
Illinois SB0134 amends the Illinois Estate and Generation-Skipping Transfer Tax Act to include spousal exclusions and credits for estate tax purposes. For individuals dying on or after January 1, 2026, if a valid election has been made under the Internal Revenue Code to account for a federal deceased spousal unused exclusion amount, the Illinois exclusion amount will include the Illinois deceased spousal unused exclusion amount. The bill also modifies the state tax credit calculation for certain estates. The changes apply to estates of individuals dying on or after January 1, 2026.
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