The District of Columbia is in the process of making yearly reductions in the rates on its three-bracket personal income tax schedule. The top rate was reduced from 9.5% to 9.3% in 2001, to 9% in 2002, to 8.7% in 2003, with further reductions scheduled for 2004. For 2003, the lowest rate was lowered from 5% to 4.5% and is scheduled to fall to 4% in 2004. The corporate income tax, set to be reduced to 9% in 2003 and to 8.5% in 2004., had not been reduced according to schedule, and was at 9.975% (which includes a surtax) in 2003. There is a minimum corporate tax of $100. The District levies a 5.75% general sales and use tax, various excise taxes, plus real and personal property taxes. Until 2001, the District's estate tax was equal to the federal exemption for state estate taxes, but after the federal estate (or death) tax was set to be phased out, the District enacted its own stand-alone estate tax law.