Estate Facts

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  • Yasgur's Farm
    Moderator
    • Feb 2005
    • 7091
    #1

    Estate Facts

    I was just doing a little research on estate taxes... Here's the findings...

    Federal:
    $5.34M exempt from taxes.
    Remainder taxed at 40%.

    NYS:
    $1M exempt for estate of a person who died prior to April 1, 2014.
    First $10.039M (less exemption) taxed at 5.085%.
    Remainder taxed at 16%.

    To put this in perspective, Ralph'd estate would pay the following based on the Bills selling for $1B...
    Federal gets $397,864,000
    NYS gets $158,853,393.15
    Total taxes = $556,717,393.15 (55.67%)
    Total remaining for trust = $443,282,606.85 (44.33%)

    That's an obscene government money grab IMO.
    Tags: None
    • 👍 3
  • SpikedLemonade
    • Jun 2024
    #2
    Re: Estate Facts

    Sure but the government will end up cutting a cheque for $600M if a new stadium is ever built which is basically what they get now in taxes plus 8 years interest.

    Comment

    • Fletch
      Registered User
      • May 2007
      • 3166
      #3
      Re: Estate Facts

      Originally posted by SpikedLemonade View Post
      Sure but the government will end up cutting a cheque for $600M if a new stadium is ever built which is basically what they get now in taxes plus 8 years interest.
      Cheque

      LOL

      You really are Canadian.
      http://www.billszone.com/fanzone/sho...s-haters/page3

      Post #46

      Originally posted by Yasgur's Farm
      (Moderator) My name's Max Yasgur, and I approve of this post.
      Originally Posted by pmoon6
      The idea that you "won't settle" presumes that you have some kind of control. Delusional thinking at best for a supposed fan of a spectators' sport. Your way to deal with it is to constantly ***** and denigrate any move, any result concerning the team even if it's positive because you don't want your whittle feewings hurt again. It's a protection mechanism.

      You shroud your childish approach in a vale of pompous, intellectual garbage in an attempt to look smart and "real". You over-analyze even minute points and manipulate statistics to fit your negative view of the team. Again, to feel good about yourself and to protect from getting hurt.

      Of course, the criticisms are obviously from someone who has no understanding of the team concept or what it takes to excel at athletics.

      The true "realist" understands that they have no control of what happens on the field or behind the closed doors at One Bills' Drive, so they do the prudent thing for a spectator. They enjoy the games on Sunday with family and friends, cheer for their team and realize that it's just entertainment.
      ------

      "I was an integral part in the drafting process of EJ Manuel," Whaley said Thursday on NFL Network's Total Access. "I was the person that handled the draft process and setting up the board."

      "We are committed. I want you to believe me when I say that," Whaley said of building around the second-year quarterback, per The Buffalo News. "I always tell you guys that I'll never say never because I don't want to paint myself in a corner, but when I do say something, I do it and I mean it and I try to fulfill it."

      "We believe the addition of Sammy is going to be instant impact, not only to our quarterback, but to what our offensive coordinator can come up with game-plan wise and how defenses attack us," Whaley said.

      Whaley on EJ Manuel: "We think we got a gem in this guy." (2:30)

      "And as Mark says, if in three years maybe he's not [our quarterback of the future], then I'll be sitting there saying 'hey guys', .... anybody got a job for me?" - Doug Whaley

      Comment

      • Albany,n.y.
        Registered User
        • Jul 2002
        • 5599
        #4
        Re: Estate Facts

        Is it the same for a trust? If there was a way to lower those rates I'm sure Ralph had it covered.

        Comment

        • Bill Cody
          Registered User
          • Sep 2004
          • 11885
          #5
          Re: Estate Facts

          Originally posted by Yasgur's Farm View Post
          I was just doing a little research on estate taxes... Here's the findings...

          Federal:
          $5.34M exempt from taxes.
          Remainder taxed at 40%.

          NYS:
          $1M exempt for estate of a person who died prior to April 1, 2014.
          First $10.039M (less exemption) taxed at 5.085%.
          Remainder taxed at 16%.

          To put this in perspective, Ralph'd estate would pay the following based on the Bills selling for $1B...
          Federal gets $397,864,000
          NYS gets $158,853,393.15
          Total taxes = $556,717,393.15 (55.67%)
          Total remaining for trust = $443,282,606.85 (44.33%)

          That's an obscene government money grab IMO.
          The estate tax won't be due until Mary dies, there's an unlimited marital deduction.

          Comment

          • Fletch
            Registered User
            • May 2007
            • 3166
            #6
            Re: Estate Facts

            None of this really affects the sale of the team though.

            Even if the family only netted $100M it would still be more than enough for everyone in the family to live a ridiculously wealthy lifestyle.
            http://www.billszone.com/fanzone/sho...s-haters/page3

            Post #46

            Originally posted by Yasgur's Farm
            (Moderator) My name's Max Yasgur, and I approve of this post.
            Originally Posted by pmoon6
            The idea that you "won't settle" presumes that you have some kind of control. Delusional thinking at best for a supposed fan of a spectators' sport. Your way to deal with it is to constantly ***** and denigrate any move, any result concerning the team even if it's positive because you don't want your whittle feewings hurt again. It's a protection mechanism.

            You shroud your childish approach in a vale of pompous, intellectual garbage in an attempt to look smart and "real". You over-analyze even minute points and manipulate statistics to fit your negative view of the team. Again, to feel good about yourself and to protect from getting hurt.

            Of course, the criticisms are obviously from someone who has no understanding of the team concept or what it takes to excel at athletics.

            The true "realist" understands that they have no control of what happens on the field or behind the closed doors at One Bills' Drive, so they do the prudent thing for a spectator. They enjoy the games on Sunday with family and friends, cheer for their team and realize that it's just entertainment.
            ------

            "I was an integral part in the drafting process of EJ Manuel," Whaley said Thursday on NFL Network's Total Access. "I was the person that handled the draft process and setting up the board."

            "We are committed. I want you to believe me when I say that," Whaley said of building around the second-year quarterback, per The Buffalo News. "I always tell you guys that I'll never say never because I don't want to paint myself in a corner, but when I do say something, I do it and I mean it and I try to fulfill it."

            "We believe the addition of Sammy is going to be instant impact, not only to our quarterback, but to what our offensive coordinator can come up with game-plan wise and how defenses attack us," Whaley said.

            Whaley on EJ Manuel: "We think we got a gem in this guy." (2:30)

            "And as Mark says, if in three years maybe he's not [our quarterback of the future], then I'll be sitting there saying 'hey guys', .... anybody got a job for me?" - Doug Whaley

            Comment

            • SpikedLemonade
              • Jun 2024
              #7
              Re: Estate Facts

              Originally posted by Albany,n.y. View Post
              Is it the same for a trust? If there was a way to lower those rates I'm sure Ralph had it covered.
              An estate freeze or two but we just don't know.

              Comment

              • WagonCircler
                Escaped Convict
                • Jul 2002
                • 5876
                #8
                Re: Estate Facts

                Originally posted by SpikedLemonade View Post
                Sure but the government will end up cutting a cheque for $600M if a new stadium is ever built which is basically what they get now in taxes plus 8 years interest.
                So what? Rich Stadium cost $22 MIL to build and has paid for itself dozens of times over.

                A stadium, unlike most government expenditures, is a revenue generator. There is a net gain.

                (Although, maybe not if you're relying on the Argos.)

                Comment

                • MitchMurrayDowntown
                  Skoobasaurus-Rex
                  • Oct 2011
                  • 22284
                  #9
                  Re: Estate Facts

                  Originally posted by SpikedLemonade View Post
                  Sure but the government will end up cutting a cheque for $600M if a new stadium is ever built which is basically what they get now in taxes plus 8 years interest.
                  Jacques wrote a cheque, eh?
                  • 👍 1

                  Comment

                  • SpikedLemonade
                    • Jun 2024
                    #10
                    Re: Estate Facts

                    Kiss my stinkin' hairy arse.

                    Comment

                    • MitchMurrayDowntown
                      Skoobasaurus-Rex
                      • Oct 2011
                      • 22284
                      #11
                      Re: Estate Facts

                      Originally posted by SpikedLemonade View Post
                      Kiss my stinkin' hairy arse.
                      LOL, sorry I had too.
                      • 👍 1

                      Comment

                      • Yasgur's Farm
                        Moderator
                        • Feb 2005
                        • 7091
                        #12
                        Re: Estate Facts

                        zedzedzedzedzedzedzedzedzedzedzedzedzedzed.... Organeyezation, etc.

                        Comment

                        • Fletch
                          Registered User
                          • May 2007
                          • 3166
                          #13
                          Re: Estate Facts

                          Originally posted by WagonCircler View Post
                          So what? Rich Stadium cost $22 MIL to build and has paid for itself dozens of times over.

                          A stadium, unlike most government expenditures, is a revenue generator. There is a net gain.

                          (Although, maybe not if you're relying on the Argos.)
                          Man are you dense, and ignorant.
                          Last edited by Fletch; 08-06-2014, 12:08 PM.
                          http://www.billszone.com/fanzone/sho...s-haters/page3

                          Post #46

                          Originally posted by Yasgur's Farm
                          (Moderator) My name's Max Yasgur, and I approve of this post.
                          Originally Posted by pmoon6
                          The idea that you "won't settle" presumes that you have some kind of control. Delusional thinking at best for a supposed fan of a spectators' sport. Your way to deal with it is to constantly ***** and denigrate any move, any result concerning the team even if it's positive because you don't want your whittle feewings hurt again. It's a protection mechanism.

                          You shroud your childish approach in a vale of pompous, intellectual garbage in an attempt to look smart and "real". You over-analyze even minute points and manipulate statistics to fit your negative view of the team. Again, to feel good about yourself and to protect from getting hurt.

                          Of course, the criticisms are obviously from someone who has no understanding of the team concept or what it takes to excel at athletics.

                          The true "realist" understands that they have no control of what happens on the field or behind the closed doors at One Bills' Drive, so they do the prudent thing for a spectator. They enjoy the games on Sunday with family and friends, cheer for their team and realize that it's just entertainment.
                          ------

                          "I was an integral part in the drafting process of EJ Manuel," Whaley said Thursday on NFL Network's Total Access. "I was the person that handled the draft process and setting up the board."

                          "We are committed. I want you to believe me when I say that," Whaley said of building around the second-year quarterback, per The Buffalo News. "I always tell you guys that I'll never say never because I don't want to paint myself in a corner, but when I do say something, I do it and I mean it and I try to fulfill it."

                          "We believe the addition of Sammy is going to be instant impact, not only to our quarterback, but to what our offensive coordinator can come up with game-plan wise and how defenses attack us," Whaley said.

                          Whaley on EJ Manuel: "We think we got a gem in this guy." (2:30)

                          "And as Mark says, if in three years maybe he's not [our quarterback of the future], then I'll be sitting there saying 'hey guys', .... anybody got a job for me?" - Doug Whaley

                          Comment

                          • Fletch
                            Registered User
                            • May 2007
                            • 3166
                            #14
                            Re: Estate Facts

                            Originally posted by MitchMurrayDowntown View Post
                            Jacques wrote a cheque, eh?
                            LOL

                            Regarding the stadium though, it's unlikely that it would cost as little as $600M anyway. That's very low-end for modern NFL stadiums. All we'd need is low-end, but selling that to the NFL may be tough.
                            http://www.billszone.com/fanzone/sho...s-haters/page3

                            Post #46

                            Originally posted by Yasgur's Farm
                            (Moderator) My name's Max Yasgur, and I approve of this post.
                            Originally Posted by pmoon6
                            The idea that you "won't settle" presumes that you have some kind of control. Delusional thinking at best for a supposed fan of a spectators' sport. Your way to deal with it is to constantly ***** and denigrate any move, any result concerning the team even if it's positive because you don't want your whittle feewings hurt again. It's a protection mechanism.

                            You shroud your childish approach in a vale of pompous, intellectual garbage in an attempt to look smart and "real". You over-analyze even minute points and manipulate statistics to fit your negative view of the team. Again, to feel good about yourself and to protect from getting hurt.

                            Of course, the criticisms are obviously from someone who has no understanding of the team concept or what it takes to excel at athletics.

                            The true "realist" understands that they have no control of what happens on the field or behind the closed doors at One Bills' Drive, so they do the prudent thing for a spectator. They enjoy the games on Sunday with family and friends, cheer for their team and realize that it's just entertainment.
                            ------

                            "I was an integral part in the drafting process of EJ Manuel," Whaley said Thursday on NFL Network's Total Access. "I was the person that handled the draft process and setting up the board."

                            "We are committed. I want you to believe me when I say that," Whaley said of building around the second-year quarterback, per The Buffalo News. "I always tell you guys that I'll never say never because I don't want to paint myself in a corner, but when I do say something, I do it and I mean it and I try to fulfill it."

                            "We believe the addition of Sammy is going to be instant impact, not only to our quarterback, but to what our offensive coordinator can come up with game-plan wise and how defenses attack us," Whaley said.

                            Whaley on EJ Manuel: "We think we got a gem in this guy." (2:30)

                            "And as Mark says, if in three years maybe he's not [our quarterback of the future], then I'll be sitting there saying 'hey guys', .... anybody got a job for me?" - Doug Whaley

                            • 👍 1

                            Comment

                            • SpikedLemonade
                              • Jun 2024
                              #15
                              Re: Estate Facts

                              Originally posted by Fletch View Post
                              Regarding the stadium though, it's unlikely that it would cost as little as $600M anyway. That's very low-end for modern NFL stadiums. All we'd need is low-end, but selling that to the NFL may be tough.
                              $600M +
                              $150M (from NFL) +
                              $125M (from selling PSLs) +
                              $125M (from owner after collecting $50M for 25 year naming rights)
                              =$1B

                              Comment

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