The tax rate stays at 40% for taxable estates above the exemption amount.
The law also provides for portability of the unused spousal exemption by timely election on a Form 706.
Tax free gifts for 2015 and 2014 is $14,000 per recipient.
The American Taxpayer Relief Act of 2012 unified the estate and gift tax transfer system.
The estate tax exemption for Illinois remains at $4,000,000 in 2015 and 2014. Illinois does not allow for indexing this exemption for inflation.
Illinois also does not currently recognize the portability of the spousal unused exemption.