South By North Strategies, Ltd.

TaxVox analyzes the share of all estates subject to the estate tax at different points in time between 1934 and 2011 (estimated). If the tax deal currently under congressional consideration passes, just 0.2 percent of all estates — an estimated 3,600 estates in all — would be subject to estate taxes in 2011. From the blog:

The compromise tax bill worked out by President Obama and congressional Republicans would reinstate the tax for 2011 and 2012 with a $5 million exemption and a 35 percent tax rate. Though obviously a tax increase compared to what estates pay this year (i.e., nothing), that would be much less onerous for the wealthy than the $1 million exemption and 55 percent top tax rate that will take effect in January if Congress makes no changes. Absent congressional action, about 2 percent of estates would pay the estate tax; under the compromise agreement, less than a tenth as many would owe anything (blue dot). That 0.2 percent would be the smallest percentage of estates owing tax since at least 1934 (other than 2010, when the one-year hiatus exempted every estate).