What is the tax rate for trusts and estates?

What is the tax rate for trusts and estates?

For tax years ending on or after January 1, 2011, the income tax rate is 5% for trusts and estates.

For tax years ending December 31, 2010 and prior, the income tax rate for a trust or estate is 3 percent.

Trusts also pay a 1.5 percent Personal Property Tax Replacement Income Tax (replacement tax). Estates do not pay replacement tax.

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