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There wouldn't normally be liens on the inheritance...but on the assets in the estate, which can't be distributed and become an inheritance until they are settled by the estate.
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∙ 15y ago
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What is the difference between death tax and estate tax?
Inheritance taxes and estate taxes differ only in who pays and to whom the tax is paid. Learn the differences between inheritance and estate taxes.
Who is required to pay inheritance taxes?
In many jurisdictions the estate pays inheritance tax.
Does Arizona have an inheritance tax?
No, Arizona does not have an inheritance tax. Inheritance tax is a state tax that is imposed on the beneficiary of an inheritance, while estate tax is imposed on an estate before it is distributed to beneficiaries.
What is the Virginia STATE inheritance tax rate?
Virginia does not have an inheritance tax. But they do have an estate tax.
Will I have to pay an inheritance tax in Virginia?
There is no inheritance or estate tax in Virginia. It is limited and related to federal estate tax collection only.
What tax is the same as an inheritance tax?
estate tax
Does WA have an inheritance tax?
Washington state replaced its inheritance tax with an estate tax in 1982.
Who pays an inheritance tax?
Inheritance Tax is paid by the deceased individual's estate. To the degree that an estate's assets are reduced by the payment of inheritance taxes it can be said that heirs "pay" the tax but they are not liable for payment of the tax. An executor/executrix is responsible for determining if taxes are owed, for filing the appropriate tax returns and for making the necessary tax payments. An executor/executix is personally liable should taxes that are owed fail to be paid.
Does Chicago have inheritance tax?
Inheritance and Estate TaxesThere is no inheritance tax and only a limited estate tax related to federal estate tax collection.For further information, visit the Illinois Department of Revenue site or call 800-732-8866.
What is the North Carolina inheritance tax rate?
North Carolina does not have an inheritance tax. Inherited assets are not subject to state inheritance tax, although they may still be subject to federal estate tax depending on the total value of the estate.
What is the inheritance tax for 2008?
There is no federal inheritance tax, but there is a federal estate tax. A few states have a state inheritance tax and each state sets its own tax rate. You may be seeking information about the estate tax (which taxes the value of an estate after someone has died). Be sure you know the difference.
What are North Carolina inheritances taxes?
North Carolina does not have an Inheritance tax and the Estate Taxesis related to the estate tax collection.There is no inheritance tax and the estate tax is related to federal estate tax collection.For further information, visit the North Carolina Department of Revenue site.
