Web Results

www.reference.com/article/florida-inheritance-tax-law-69599e9f412b2ca1

As of 2015, Florida does not have an inheritance tax law, explains About.com's Julie Garber. As of Jan 1, 2005, Florida has no estate tax, explains the State of Florida Department of Revenue. Estate's of decedents who passed away before Jan 1, 2005, are subject to estate tax.

www.reference.com/article/inheritance-tax-laws-texas-4236e43e523c3185

Texas does not require a state inheritance tax return on estates with a date of death on or after Jan. 1, 2005, according to the Texas Comptroller of Public Accounts. Thus, a state-level tax is no longer collected in Texas.

www.reference.com/article/inheritance-tax-9a5a5f133ebbaa94

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.

www.reference.com/article/states-state-inheritance-tax-c5263951abeca707

Six states have state inheritance taxes as of 2015. Iowa, Kentucky, Nebraska and Pennsylvania have inheritance taxes only, while Maryland and New Jersey have both estate taxes and inheritance taxes.

www.reference.com/article/inheritance-tax-work-6d40520e982372ed

The inheritance or estate tax is a tax on the right to transfer property at the owner's death. The estate's executor or administrator takes an accounting of everything the decedent owned on the date of death, using fair market value. This is the "gross estate" and if, for 2014, it plus any prior tax

www.reference.com/business-finance/michigan-inheritance-tax-laws-a1364af038401d23

The state of Michigan levies no inheritance tax or estate tax as of 2015, reports the Michigan Department of Treasury. The only death tax for Michigan residents is the federal estate tax levied on estates worth more than $5.43 million, according to Nolo.

www.reference.com/article/illinois-inheritance-tax-laws-c8f5f4bcf1ae3414

Illinois has no inheritance tax, according to Bankrate. However, Illinois levies a state estate tax on some estates that have estimated gross values of over $4 million as of 2015, reports Nolo.

www.reference.com/article/federal-tax-inheritance-law-passed-97c77ac687ffd1c2

An early version of the federal inheritance tax, also known as the estate tax, was first authorized by Congress in 1797 and took the form of a stamp act, according to the Heritage Foundation. Multiple subsequent estate taxes were enacted over the next 200 years.

www.reference.com/article/taxes-inheritance-determined-77b9f7963372491e

The estate, or inheritance tax, is the tax on the right to transfer assets at the time of the owner's death, the IRS explains. The estate's administrator or executor prepares an account of every asset the decedent owned on the date of his death using the current fair market value. This is the gross

www.reference.com/article/inheritance-laws-united-states-2f5670d574e510a5

Each state in America operates under one of two legal inheritance principles, either community property laws or common law, explains FindLaw. Community property laws generally grant each partner in a marriage a half-interest in property acquired during the marriage. Common law states rely on whose n