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Wyoming Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

Wyoming does not have an Inheritance Tax however they do have limited estate taxes based on the Federal Estate Taxes.  However below is information related to Inheritance tax that helps explain how it would work. 

If there was an inheritance tax then it would be paid upon the death ... continue reading

Wisconsin Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

Wisconsin does not have an Inheritance Tax however they do have limited estate taxes based on the Federal Estate Taxes.  However below is information related to Inheritance tax that helps explain how it would work. 

If there was an inheritance tax then it would be paid upon the death ... continue reading

West Virginia Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

West Virginia does not have an Inheritance Tax however they do have limited estate taxes based on the Federal Estate Taxes.  However below is information related to Inheritance tax that helps explain how it would work. 

If there was an inheritance tax then it would be paid upon the ... continue reading

Washington Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

Washington does not have an Inheritance Tax however they do have limited estate taxes based on the Federal Estate Taxes.  However below is information related to Inheritance tax that helps explain how it would work. 

If there was an inheritance tax then it would be paid upon the death ... continue reading

Virginia Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

There are many states that do not have an Inheritance Tax.  Virginia does not have an Inheritance Tax however they do have limited estate taxes based on the Federal Estate Taxes.  However below is information related to Inheritance tax that helps explain how it would work. 

If there was ... continue reading

Vermont Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

Vermont does not have an Inheritance Tax however they do have limited estate taxes based on the Federal Estate Taxes.  However below is information related to Inheritance tax that helps explain how it would work. 

If there was an inheritance tax then it would be paid upon the death ... continue reading

Utah Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

Utah does not collect an inheritance tax. If there was an inheritance tax then it would be paid upon the death of a person.  The beneficiaries are the ones taxed.  There is a federal inheritance tax that is sometimes piggybacked with the state inheritance taxes.  In some states the estate ... continue reading

Texas Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

Texas does not collect an inheritance tax. If there was an inheritance tax then it would be paid upon the death of a person.  The beneficiaries are the ones taxed.  There is a federal inheritance tax that is sometimes piggybacked with the state inheritance taxes.  In some states the estate ... continue reading

Tennessee Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

Tennessee has an inheritance tax that is coupled with the estate tax laws in their state.  It is considered a privilege to receive property and therefore it should be taxed accordingly. 

Inheritance and estate taxes are imposed on decedents’ estates that exceed the maximum single exemption. Inheritance tax is ... continue reading

South Dakota Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

South Dakota does not collect an inheritance tax.  The actual inheritance tax was repealed in June 2001.   If there was an inheritance tax then it would be paid upon the death of a person.  The beneficiaries are the ones taxed.  There is a federal inheritance tax that is sometimes piggybacked ... continue reading

South Carolina Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

South Carolina  does not collect an inheritance tax but if there was an inheritance tax then it would be paid upon the death of a person.  The beneficiaries are the ones taxed.  There is a federal inheritance tax that is sometimes piggybacked with the state inheritance taxes.  In some states ... continue reading

Rhode Island Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

Rhode Island  does not collect an inheritance tax but if there was an inheritance tax then it would be paid upon the death of a person.  The beneficiaries are the ones taxed.  There is a federal inheritance tax that is sometimes piggybacked with the state inheritance taxes.  In some states ... continue reading

Pennsylvania Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

In the State of Pennsylvania inheritance tax is paid on the assets of the deceased.  The personal representative is responsible for the payment of the taxes. 

There is an inheritance tax in Pennsylvania and it is pretty extensive.  Pennsylvania Inheritance Tax is 4.5 percent for transfers to direct descendants ... continue reading

Oregon Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

In Oregon an inheritance tax is applied to those that has passed since January 1, 1998.  The tax is paid based on the maximum amount of the state death tax credit allowable against the federal estate tax under section 2011 of the Internal Revenue Code.  You are also taxed on ... continue reading

Oklahoma Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

Oklahoma does not collect an inheritance tax but if there was an inheritance tax then it would be paid upon the death of a person.  The beneficiaries are the ones taxed.  There is a federal inheritance tax that is sometimes piggybacked with the state inheritance taxes.  In some states the ... continue reading

Ohio Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

Ohio is another state that does not have an inheritance tax.  There is an estate tax instead that is he basic Ohio estate tax is levied against the value of a resident decedent’s gross estate less deductions and exemptions. Graduated rates range up to $23,600 plus 7.0 percent on that ... continue reading

North Dakota Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

North Dakota does not have an inheritance tax.  Instead the state has an estate tax that is based on Federal guidelines. 

If there was an inheritance tax then it would be paid upon the death of a person.  The beneficiaries are the ones taxed.  In some states the estate taxes operate ... continue reading

North Carolina Inheritance Tax Laws

Monday, December 11th, 2006
Posted by Priscilla

North Carolina does not have an inheritance tax.  The state piggybacks off of the Federal government estate tax laws. If there was an inheritance tax then it would be paid upon the death of a person. 

The beneficiaries are the ones taxed.  There is a federal inheritance tax that is ... continue reading

New York Inheritance Tax Laws

Saturday, December 9th, 2006
Posted by Priscilla

New York does not have an inheritance tax.  Matter of fact they have also repealed their estate tax per federal laws in 2005.

If there was an inheritance tax then it would be paid upon the death of a person.  The beneficiaries are the ones taxed.  There is a ... continue reading

New Mexico Inheritance Tax Laws

Saturday, December 9th, 2006
Posted by Priscilla

New Mexico has no inheritance tax, but an inheritance may be reflected in a taxpayer’s modified gross income and taxed that way.  This is different that what usually occurs in the various states.

If there was an inheritance tax then it would be paid upon the death of a ... continue reading

New Jersey Inheritance Tax Laws

Saturday, December 9th, 2006
Posted by Priscilla

New Jersey collects an inheritance tax called an inheritance transfer tax.  For transfer inheritance tax purposes, New Jersey’s Domestic Partnership Act applies to decedents dying on or after July 10, 2004. It exempts all transfers made by will, survivorship or contract to a surviving domestic partner. In addition to the ... continue reading

New Hampshire Inheritance Tax Laws

Saturday, December 9th, 2006
Posted by Priscilla

In the State of New Hampshire the Legacy and Succession Tax (RSA 86) was repealed, effective for deaths occurring on or after January 1, 2003; therefore, this tax would not apply.  However before this date in the State of New Hampshire an 18 percent legacy and succession tax is assessed ... continue reading

Nevada Inheritance Tax Laws

Saturday, December 9th, 2006
Posted by Priscilla

Nevada Inheritance Tax Laws state that estates are taxed based on the federal estate tax law. There is no inheritance tax law. The Nevada tax equals the credit allowed for state death taxes on the federal estate tax return. Since the Nevada tax is completely offset, there is no additional ... continue reading

Nebraska Inheritance Tax Laws

Saturday, December 9th, 2006
Posted by Priscilla

Nebraska’s Inheritance Tax is collected on a county by county basis. Inheritance tax exemptions and rates may vary depending on who received the property, i.e. the decedent’s spouse may be taxed at a lower rate than would be a friend of the decedent. A number of states are phasing out ... continue reading

Montana Inheritance Tax Laws

Saturday, December 9th, 2006
Posted by Priscilla

Montana’s inheritance tax was repealed Dec. 31, 2000 so everything was taxed based on estate taxes however the estate tax is limited and related to federal estate tax collection. Montana’s estate tax is equal to the maximum credit allowed against the federal estate tax. Since federal tax-law changes have eliminated ... continue reading

Missouri Inheritance Tax Laws

Saturday, December 9th, 2006
Posted by Priscilla

Missouri had an Inheritance Tax Law but it was changed in January 1981 to the estate tax.  Then the law changed again.  The IRS will no longer allows a state death tax credit for deaths after Jan. 1, 2005, no Missouri estate tax is imposed and no estate tax return ... continue reading

Mississippi Inheritance Tax Laws

Sunday, December 3rd, 2006
Posted by Priscilla

Mississippi does not have an Inheritance Tax Law however they do collect estate taxes.  There was a change in the name from Inheritance tax to the Estate Tax.  The new law became effective January 1, 1981 as the estate tax.  Since there is no inheritance tax I will talk about ... continue reading

Minnesota Inheritance Tax Laws

Sunday, December 3rd, 2006
Posted by Priscilla

Minnesota did not adopt the Federal changes in 2005 so there is an inheritance/estate tax law.   The rules regarding who must file are listed as follows:

·        The gross estate is at least or more than the Minnesota threshold for the year (the threshold for 2005 is $950,000; see ... continue reading

Michigan Inheritance Tax Laws

Sunday, December 3rd, 2006
Posted by Priscilla

Michigan does not have an inheritance tax.  In addition they do have a limited estate tax that works in conjunction with the Federal estate tax. 

Inheritance tax exemptions and rates may vary depending on who received the property, i.e. the decedent’s spouse may be taxed at a lower rate ... continue reading

Massachussets Inheritance Tax Laws

Sunday, December 3rd, 2006
Posted by Priscilla

Massachusetts does not have an inheritance tax.  In addition they do have a limited estate tax that works in conjunction with the Federal estate tax. 

Inheritance tax exemptions and rates may vary depending on who received the property, i.e. the decedent’s spouse may be taxed at a lower rate ... continue reading