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Does Your State Have an Estate or Inheritance Tax?

In addition to the federal estate tax (which is fourth highest in the OECD ), many U.S. states levy their own estate and inheritance taxes. While estate taxes are charged against the estate regardless of who inherits the assets, inheritance taxes are levied on the transfer of assets to heirs, based on the relationship of the inheritor to the deceased. In the case of inheritance taxes, spouses, children, or siblings often have different exemptions, which we list in detail in table 35 in the 2015 edition of our annual handbook, Facts & Figures . Currently, fifteen states and the […]

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