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Yes if they inherit something of monetary value.

Everybody who inherits something of monetary value pays inheritance tax.

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14y ago

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Related Questions

Pay tax on inheritance in Canada?

do you have to pay tax on inheritance


Do you have to pay inheritance tax in Florida?

In Florida, there is no state inheritance tax, so beneficiaries do not have to pay inheritance tax on assets they receive.


Do you pay income tax on inheritance?

No Federal income tax due on inheritance.


What is inheritance tax limits?

Inheritance tax limits are basically limits of tax that the company has to pay from the inheritance of the dead. This would then regulate the inheritance rate from the life insurance.


Is your annuity subject to pa inheritance tax?

does a beneficiary of an annuity pay pa inheritance tax


Who can tell me what is inheritance tax?

Inheritance tax is the tax that you have to pay if you gain some kind of income through an inheritance fund. It is like adding to the income you gain through inheritance.


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.


Does wife pay inheritance tax when you die if her name is not on deed?

The majority rule for inheritance is that any inheritance, unless specifically written otherwise, is non taxable. The wife will not have to pay inheritance tax when you die if her name is not on the deed.


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.


If you inherit a house do you pay income taxes on it?

No, you pay inheritance tax and, ultimately, property tax as the owner.


Do you pay state tax on inheritance?

In some states.


How much tax do you have to pay on 133000 inheritance?

What country are you in

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