Pursuant to IRS Revenue Procedure 2016-55, the 2017 Estate, Gift and GST Tax
exemptions are as follows:

A. Estate Tax

• The maximum Estate tax rate will be 40%. I.R.C. §2001.
• The Estate tax exclusion amount for year 2017 is increased to $5.49 million (adjusted annually for inflation).  I.R.C. §2010.

B. Gift Tax

• The maximum Gift tax rate will be 40%. I.R.C. §2502(a).
• The annual Gift tax exclusion amount for 2017 remains at $14,000 (adjusted annually for inflation).  I.R.C. §2503(b)(2).
• The annual Gift tax exclusion amount to a non-U.S. citizen spouse for 2017 is increased to $149,000 (adjusted annually for inflation).  I.R.C. §2503 and §2523(i)(2).
• The lifetime Gift tax exclusion amount for year 2017 is increased to $5.49 Million (adjusted annually for inflation).

C. Generation-Skipping Transfers (GST) Tax

• The maximum GST tax rate will be 40%.
• The GST tax exclusion amount for year 2017 is increased to $5.49 Million (adjusted annually for inflation).