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baltimoresun.com

Md. should lower estate tax [Letter]

2:00 PM EST, January 19, 2014

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As a financial adviser for 35 years, I take issue with your editorial advising against reducing Maryland's estate tax ("Settling the estate tax," Jan. 17). Through the years, I have seen more and more of my clients take residence in Florida or other states with no such tax, and these are precisely the people one would want to keep in Maryland. They pay more than their share of income, sales and other taxes when residing here, versus nothing when elsewhere. The Sun suggests doing some estate planning, which is expensive and unnecessary. And this for, what the Sun admits, is a tiny portion of the state's budget.

Maryland is only one of two states with both estate and inheritance taxes and, in my opinion, eliminating them both would increase the state's tax revenues.

Jeff M. Schumer, Baltimore

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