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We live in CT. Have inherited $75,000 worth of stock from my husband's parents. How will we be taxed on this?
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∙ 12y ago
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What are the federal inheritance tax laws?
According to the H&R Block web site the Federal Gov. has no inheritance tax.
Why was inheritance tax abolished?
it was hard to collect the tax, so the state followed the feds by repealing the inheritance tax laws and inacting an estate tax. basically the tax was paid by the estate before it was distributed to the heirs
How long do you reside in state before you have to pay inheritance tax?
There is no time frame. If you are a resident of the state when you inherit, you pay the inheritance tax per the state laws.
What are the inheritance laws in Washington D.C.?
Washington DC does have an estate tax. They do not have an inheritance tax. It would be a good idea to consult a probate attorney in DC. They will know how to reduce the tax liabilities of the estate.
What has the author Burt Rufus Glidden written?
Burt Rufus Glidden has written: 'Inheritance and estate tax laws (annotated)' -- subject(s): Inheritance and transfer tax
What are the inheritance tax laws in the state of Tennessee?
Tennessee is one of the 11 states that does have an inheritance tax. It would be a good idea to consult a probate attorney in Tennessee. They will know the besst way to reduce the tax liabilities of the estate.
What are the inheritance tax laws in the state of Indiana?
In Indiana, there is no inheritance tax. However, there is an estate tax for estates worth over $11.7 million. Additionally, beneficiaries of an estate in Indiana may be subject to federal inheritance taxes depending on the size of the inheritance.
Are payable on death accounts subject to inheritance tax in Indiana?
The tax laws vary by state. Only 11 states have an inheritance tax. The rules are going to vary. Please consult an attorney in your state for specific details.
Do you have to pay inheritance tax if it was passed from your grandparents to you?
Inheritance tax laws vary by country and state. In some jurisdictions, there may be exemptions or lower tax rates for inheritances passed down from grandparents to grandchildren. It's best to consult with a tax professional to determine the specific implications in your situation.
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.
Does Minnesota have an inheritance tax?
No. Minnesota does not have an inheritance tax.
Is there inheritance tax for 2010?
there is no inheritance tax in 2010
