Rhode Island H7240 allows estate tax discharge upon filing a statement that the estate does not require state or federal tax filing.

Rhode Island H7240 modifies estate tax procedures by allowing an estate tax discharge when an executor, trustee, or other estate representative files a statement with the decedent's municipality that the estate's value does not necessitate state or federal tax filing. The bill requires a $50 fee for estates with a date of death before January 1, 2025, but eliminates this fee for estates with a date of death on or after January 1, 2025. Trustees must also file a statement within 30 days of the trust creator's death. The bill's provisions take effect upon passage.

Rhode Island H7240 allows estate tax discharge upon filing a statement that the estate does not require state or federal tax filing.

Rhode Island H7240 modifies estate tax procedures by allowing an estate tax discharge when an executor, trustee, or other estate representative files a statement with the decedent's municipality that the estate's value does not necessitate state or federal tax filing. The bill requires a $50 fee for estates with a date of death before January 1, 2025, but eliminates this fee for estates with a date of death on or after January 1, 2025. Trustees must also file a statement within 30 days of the trust creator's death. The bill's provisions take effect upon passage.