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The term "death tax" refers the fact that death itself triggers the tax or the transfer of assets on which the tax is assessed. Each state has its own death tax laws. To find your state and the laws pertaining to death taxes in that state, refer to this website: http://retirementliving.com/RLtaxes.html
What else can I help you with?
Can taxes differ from state to state?
Yes they can and do differ from state to state as each state and local areas have each have different types and amounts of taxes that they add to different items.
American pay many taxes different type of taxes of federal state and local government?
Value added taxes
Where do you pay state tax on unemployment compensation?
As each state, that collects income taxes, has different criteria, you need to check with your state's tax commission, or its equivalent. The unemployment taxes are subject to the IRS' income taxes.
Why do different states have different taxes?
Each state has a slightly different approach to taxation, and the blend of property, sales, payroll, and income taxes are different, based upon 50 different legislatures doing their individual "thing" in response to the voters and lobbyists in that state.
How do states use taxes?
States use the state taxes on many different things. These taxes are used to redo roads, pay state employee wages, plow roads, and upkeep of lawns.
Americans pay many different types of taxes to federal state and local governments?
Value added taxes
Does the benificiary pay taxes on death benefit?
With regard to state taxes, it depends on the state in which you live. In some states, the death benefit from life insurance passes outside the estate and directly to the named beneficiary. So there is not tax. For federal tax The policy has a value at the time of death. That value is included in the estate,
Can Taxes imposed by the Congress can be set at different rates from state to state?
There are different types of taxes. They are local, state, and federal. The federal taxes are income tax that is taken monthly from pay checks and in the form of social security. On top of federal is state taxes. Some states don't have a state tax while others to. States also collect taxes on sales and winning things like lotteries. State taxes are also collected at the gas pump for highway funds. Local taxes can vary between cities and regions and usually come in the form of sales taxes. Property tax is also collected by cities. These too can vary depending on the value of the property.
What happens if you win the lottery in a different state?
If you win the lottery in a different state, you can still claim your prize, but you may have to pay taxes in both the state where you bought the ticket and the state where you live.
You sold your fathers house 2 years after his death do you have to pay new york state taxes?
Yea sadly you do.
Taxes Depend On The State?
When you have a job, the taxes by state will be different depending on where you live. Every state has their own tax codes and amounts that you have to pay in. larger states that have a big population often have higher taxes. There could be a higher amount in taxes depending on the amount of people in each city of the state. Be sure that you are calculating for yourself the amount of taxes you are supposed to have taken out of your check so that you are not paying extra.
Can you file taxes in one state and your wife in another?
basically no..... but in different names yes.....
