Tennessee repealed the Gift Tax Law.
While the Federal Tax law permitted a $5 Million gift for each spouse, TN State Gift tax would have cost up to $600,000 State tax. This prompted us to go to Nevada State LLC. Now the State Law follows Federal Law.
We have a window of opportunity before December 31st, 2012 to gift “up to $10,000,000” and avoid paying any estate tax on that gift, no matter how much it has grown during your life time. Your kids and grand kids will inherit estate tax free.
My office has hooked up with Hank Shackelford, Esq. of Jackson TN. Our office is trying to reach you all to expedite the process. You are only transferring “ownership in value” not “control of assets”.
Regards,
Ramesh Sarva