Snyder Camp Upset!!

[NC_Skins]

Originally Posted by sportscurmudgeon

1. I am not a tax attorney or CPA but by my understanding of estate taxes, there will be ZERO estate tax due if Snyder dies first and leaves the team - - and anything else - - to his spouse. There is no limit on what someone can leave to a spouse tax-free. When the spouse dies, however, that is a different story...

Virginia Department of Taxation

Legislation enacted by the 2006 General Assembly, House Bill 5018, repeals the Virginia estate tax for the estates of decedents whose date of death occurs on or after July 1, 2007. The estates of decedents whose date of death occurs before July 1, 2007 remain subject to the estate tax provisions. In addition, the repeal of the Virginia estate tax does not affect the filing requirements for fiduciary income tax, regardless of when the date of death occurs.

Basically, Dan Snyder (and many other rich assholes) get to avoid taxes now because the law was repealed back in 2007. Had this been done prior to JKC's death, the team would have been in his son's hand. I'm surprised it took this long for the good ole boys in the "rich club" to get their buddies in state legislation to repeal this.

Short version: We are ****ed as SKins fans.