No federal tax. You need to consult a CPA or tax accountant to find out if any state inheritance tax applies or not. You did not mention what state this is for.
does a beneficiary of an annuity pay pa inheritance tax
There is no inheritance or estate tax in Virginia. It is limited and related to federal estate tax collection only.
Yes
No Florida does not have an inheritance tax. Only 11 states do have one enacted. Seventeen states have estate taxes, but Florida is not one of those either.
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.
No federal tax. You need to consult a CPA or tax accountant to find out if any state inheritance tax applies or not. You did not mention what state this is for.
currently in Canada there is no inheritance tax but they are pruposing such a tax for amounts over $ 1 Million
About 113 million dollars. Annual tax about 1 million dollars.
i am single with four children. how much would the taxes be on 10 million dollars?
600thou
For 2011, the federal estate tax exemption will be $5 million and the estate tax rate for estates valued over this amount will be 35%. The estate tax has also become unified with federal gift and generation-skipping transfer taxes such that in 2011 the lifetime gift tax exemption and generation-skipping transfer tax exemption will be $5 million each and the tax rate for both of these taxes will also be 35%. There is NO federal level inheritance tax.
one hundred and forty thousand pounds
South Carolina does not have an inheritance tax, so the answer is 'zero'. But if the person leaving you an inheritance had this money in another State or nation and was subject to taxation there, that other state or nation may impose inheritance tax if it has it. US Federal taxes will only apply for estates worth well over $ 5 million.
45 million dollars plus 1 million tax
Maybe. If she gives you a million dollars, you'll have to pay tax on it. If you marry her and she has a million dollars, then you are a millionaire with no additional tax. I suppose you could exploit her and make a million dollars that way.
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.