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How much inheritance tax would you pay on two and a half million pound?
Wiki User
∙ 11y ago
one hundred and forty thousand pounds
Wiki User
∙ 11y ago
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If you win 121 million dollars in the lotto how much would you get after taxes?
61-63 million ... Roughly federal and state taxes would come out to take around half... You typically take alittle more than half the winnings if you choose "lump sum" option
Does survivor of joint account pay inheritance tax or does the estate?
This question has several answers depending upon what the will says and what the inheritance tax laws of the estate's jurisdiction say. In New Jersey at least, the "inheritance tax" is a tax on what a person inherits from the estate. For this reason the tax is payable by the person who inherits the property. Despite this rule, a person may provided in his will that the estate shall pay all inheritance taxes that have to be paid. It's the decedent's choice; but if the will says nothing about the estate paying the inheritance tax, then the beneficiary pays it. Its very important to check your particular state's laws on this matter. Sometimes this issue is unclear and gets decided on the basis of very subtle language in the will. That's when lawsuits start. See a probate lawyer who has experience and knowledge in how past court cases have decided cases like yours. Plus, if you are the person making the will, and you want one way over the other, then be sure your will is drafted with the proper language so there is no mistake later on. And just in case I misunderstood what the questioner really wanted to know, let me add this. A joint bank account will probably be treated just as if it was given to the surviving joint owner via a will. Joint bank accounts, "in trust for" accounts and "payable on death" accounts might incur inheritance taxes just as if the accounts had been given by a will. There is this exception to that rule: The inheritance tax on a joint account is calculated only to the extent that the money in the account is the decedent's. If two people each contribute half of the total amount of the account, then the survivor would pay inheritance tax on half the account. If the decedent is the only contributor to the account (meaning all the money in the account is the decedent's) then the inheritance tax is calculated on the entire amount. Again all depends on that state's laws.
Can you claim your grown incarcerated son on your taxes?
Probably not. He would have to live with you over half of the year, and you would have to provide over half of his support for the year.
What are the differences between a post-billing system and a pre-billing system?
In pharmacy you bill the insurance company before you fill, if its paid for you fill it (pre bill). Some pharmacies would send the drug out (to a nursing home) and if only half was used would bill for half afterward (post bill).
What is a half down non refundable deposit?
A half-down non-refundable deposit would be a 50% deposit on what you're making the deposit on (a $700 per month rent apartment might require a half-down deposit, i.e. $350), this deposit will not be returned at the end of the term / deal / transaction.
How do you write eighteen and a half million pound in figures?
18,500,000 or 18.5 million
If a chicken in a half laid an egg in a half in a day in a half how much would a pound of butter weigh?
It would weigh a Pound
How many pounds does half a pound equal?
lbs are pounds, so half a pound would be half a lb
How heavy would an apple be 2 pounds or half a pound?
2 pounds half a pound
Does 6 ounces of cheese equal a half pound?
No, a pound is 16 ounces. So half a pound would be 8 ounces.
If a chicken and a half laid an egg and a half how much would a pound of butter weigh?
1 Pound
When your looking to get more energy A pound of chicken or a pound of rice?
well one half of rice and another half of chicken would be good because half plus half equals 1 pound
How many ounce in a half pound?
1 pound is equal to 16 ounces; therefore, half a pound would be 8 ounces.
How do you write half million in words?
That is the correct spelling of "half million" (500,000). The terminology for the determiner (adjective) would properly be "a half million" or "one-half million" or more colloquially "half a million." e.g. There were a half million refugees from the flood. More than one-half million residents were without power. As many as half a million cars were affected by the recall.
How many cups of crabmeat in half a pound?
There are two cups of crab meat in a whole pound. So, half a pound would give you around one cup.
Which would be worth more a pound of 10 pure gold coins or half a pound of 20 pure gold coins?
A pound of gold is worth more than half a pound of gold.
Why is 4500000 written like 4.5 million?
because, think of 4.5 as a normal number. it would be said four and a half. since 500,000 is one half of a million, and 4,000,000 is one million, it would be four and a half million, or 4.5.
