Wednesday, June 18, 2025

Inheritance Tax

An inheritance tax is a tax imposed on the recipient (beneficiary) of an estate, meaning the person receiving assets from a deceased individual may be responsible for paying it. 

Individuals who live in Kentucky, Maryland, Nebraska, New Jersey, or Pennsylvania and are bequeathed assets may have to pay a tax on their inheritance. This inheritance tax is levied on the value of the bequeathment received by the beneficiary, and the beneficiary pays it.

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