For amounts over $500,000 but not over $750,000, the tentative tax is $155,800 plus 37% of the excess over $500,000. This can differ from state to state, since many states also impose their own inheritance taxes.
Indiana is one of the 11 states that does have an inheritance tax. It would be a good idea to consult a probate attorney in Indiana. They will know how to reduce the tax liabilities of the estate.
The amount of taxable inheritance depends on the entire estate. If the amount of the estate that the 60,000 was inherited from is over 2 million dollars then the income is taxable. If the estate was worth less then that then there are no taxes on the estate.
There is a federal inheritance tax which is also called an estate tax. However, this tax only applies to estates that are worth more than a million dollars.
500000 Australian dollars is worth 407350 Euros as of 19th February 2012.
500000
As of 21st June 2009, £500000 = $824674.25
about 3.1 million
It is worth 500000.
500000 besyuz bin turk lirasi
500000 dollors
500000 British pounds = 996850 U.S. dollars as of 21st April 2008
500000