What Is The Gift Tax Rate 2024. As of my last knowledge update in january 2022, the federal gift tax rate was 40% on taxable gifts above the annual exclusion and lifetime exemption amounts. (that’s up $1,000 from last year’s limit since the gift tax is one of many tax amounts adjusted annually for.

Gifting is one of the many ways to. Here are the latest income tax slabs that will be effective for the current financial year after budget 2024.