articles

An inheritance tax is a tax paid by heirs or beneficiaries of an inheritance, according to Investopedia. An inheritance tax rate depends on the value of the asset received or the relationship to the descendant. More »

www.reference.com Business & Finance Taxes

While often used interchangeably, state tax and inheritance tax represent two distinct types of death taxes. An estate tax is a death tax levied on the estate whereas an inheritance tax is imposed on the heir who receive... More »

www.reference.com Business & Finance Taxes

As of 2015, the federal inheritance, or estate, tax rate is 40 percent, according to Bankrate. The first $5.43 million of an estate is exempt and not taxed by the IRS. More »

www.reference.com Business & Finance Taxes
similar articles

State inheritance tax in Pennsylvania is reduced by 5 percent if the heirs pay the full tax within three months after the decedent dies, reports the Pennsylvania Department of Revenue. Some beneficiaries don't have to pa... More »

www.reference.com Business & Finance Taxes

Common questions about the Pennsylvania inheritance tax are related to tax rates, availability of discounts and lineal heirs. Other frequently asked questions are about the types of property subject to the tax and where ... More »

www.reference.com Business & Finance Taxes

As of 2015, only six states have an inheritance tax, which taxes heirs based on their relationships to the deceased. Tax rates range from 0 to 10 percent in Maryland; from 0 to 15 percent in Iowa and Pennsylvania; from 0... More »

www.reference.com Business & Finance Taxes

TurboTax reports that as of tax year 2013, only eight states require beneficiaries to pay an inheritance tax: Iowa, Pennsylvania, Kentucky, Nebraska, Maryland, Indiana, Tennessee and New Jersey. For tax purposes, unless ... More »

www.reference.com Business & Finance Taxes