Current Exemption Amount (for 2015) In 2015, every person may leave or give away up to $5.43 million without owing any estate tax.  In effect, very few estates will be subject to the death tax at this amount.   The exemption amount is indexed for inflation each year and will slowly rise above the current $5.43 million unless and until Congress tinkers with the estate tax and estate tax exemption amount. ‘Portability’ for...

The Governor recently signed House Bill 384 which allows a one-time opportunity for delinquent taxpayers to pay all back taxes without penalty in Fiscal Year 2016. “This bipartisan legislation is a common sense solution to make sure that delinquent taxpayers pay what they owe by offering a one-time opportunity to settle their debts with the state,” Gov. Nixon said. “This legislation holds delinquent taxpayers accountable, while...

Currently, the Kansas Legislature is considering Senate Bill 57 which could significantly change the law regarding financial powers of attorneys and possibly criminalize the actions of the attorney in fact.  Similar proposals were initial introduced by the Kansas Attorney General Medicaid Fraud Division in 2013.  The bill was introduced again in 2014 but opponents to the bill were able to obtain review of the language by the Kansas Judicial...

Over the last several years, certain Missouri business owners that provided instructional information and coaching to their customers that the State of Missouri never taxed as sales before, are getting notices and knocks on the door from the Missouri Department of Revenue Sales Tax Unit informing them that their business activities are now sales taxable.  However, the Missouri sales tax statute has not changed in decades.  Why then are...