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Estate Tax Liability
(redirected from Estate Taxes Payable)

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Estate Tax Liability
The amount an estate owes to the government before it can be distributed to heirs. The estate tax liability is calculated as a certain percentage of the value of an estate after all the debts of the deceased are repaid and certain deductions are taken. However, there is no estate tax liability calculated on the first $1 million (sometimes more) of an estate's value.


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Additionally, the decedent's will provided that the estate taxes payable on the property constituting his gross estate were to be paid from the principal of his residuary estate before any distribution to the foundation.
In the press release issued by the Company on June 25, 2008, the Company indicated that the second quarter distribution was reduced due to uncertainties concerning real estate taxes payable for three of the Company's properties located in Marion County, Indiana.
 
 
 
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