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Md. Senate approves raising estate tax exemption

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ANNAPOLIS, Md. (AP) — The Maryland Senate on Thursday approved raising the exemption on the estate tax due to concerns that higher taxes are causing wealthy people to leave the state. Right now, Maryland estates worth more than $1 million are taxed at a rate of up to 16 percent. That amount would rise to $1.5 million next year and $2 million in 2016 before the rate kicks in. The exemption would...

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