Estate Taxes and Charitable Bequests by the Wealthy
AbstractCharitable bequests are an important source of philanthropic support. Unlike bequests to children which can be taxed at a maximum statutory rate of 0.55, such transfers are exempt from estate taxation. Thus, by lowering the price of charitable giving, the estate tax may influence the disposition of terminal wealth. In this paper, I examine the effects of estate taxation on charitable bequests using data from estate tax returns of decedents in 1992. The results suggest that the estate tax deduction is budget' efficient. The overall effects of the estate tax, however, are likely to be modest as charitable bequests are wealth elastic.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 7663.
Date of creation: Apr 2000
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Publication status: published as Joulfaian, David. "Estate Taxes And Charitable Bequests By The Wealthy," National Tax Journal, 2000, v53(3,Sep), Part 2, 743-763.
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Find related papers by JEL classification:
- D19 - Microeconomics - - Household Behavior - - - Other
- H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2000-05-16 (All new papers)
- NEP-PBE-2000-05-16 (Public Economics)
- NEP-PUB-2000-05-16 (Public Finance)
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