Florida Estate Taxes

The Florida estate tax is designed to absorb the federal estate tax credit for state death taxes. This means that no Florida estate tax is due unless an estate is required to file a federal estate tax return. No additional estate tax is imposed.

Deductions. Although not spelled out directly, the federal estate tax deductions are essentially built into Florida's estate tax laws.

Returns. Even though the federal Economic Growth and Tax Relief Reconciliation Act of 2001 had the effect of eliminating Florida estate tax liability for the estate of anyone dying after 2004, those estates may still need to file an estate tax return. The requirement to file the Florida return does not depend upon whether the estate owes tax. Instead, whenever an estate's personal representative is required to file a federal estate tax return, the representative must also file a Florida estate tax return. The federal Act did not affect the obligation of a personal representative who files IRS Forms 706-A or 706-QDT to report additional tax due from decedents who died prior to 2005.

Generation-skipping transfer tax. Florida imposes a generation-skipping transfer tax that is equal to the federal credit.