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Thread: What are the Estate and Inheritance Taxes in your state?

  1. #1

    Question What are the Estate and Inheritance Taxes in your state?

    According to The Tax Foundation, 16 states and DC have Estate taxes, 7 states have Inheritance taxes. Washington has the highest Estate tax at 19%. Indiana has the highest Inheritance tax at 20% followed by Nebraska at 18%. New Jersey has an Estate tax of 16% and an Inheritance tax at 16%. Maryland also has both an Estate tax and Inheritance tax.

    Estate taxes are levied on the estate itself prior to transfer; inheritance taxes are levied on the transfer of wealth based on the recipient's relationship to the descendent.
    http://taxfoundation.org/blog/weekly...and-exemptions

    What are the Estate and Inheritance taxes in the state you live in?


    I found this on the Free State Project Facebook page.
    Lifetime member of more than 1 national gun organization and the New Hampshire Liberty Alliance. Part of Young Americans for Liberty and Campaign for Liberty. Free State Project participant and multi-year Free Talk Live AMPlifier.



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  3. #2

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    New Jersey's Estate tax also has the lowest threshold before it kicks in, only $675,000. New Jersey isn't about taxing the rich. With housing prices so high in parts of NJ, it's about taxing the middle class too. Plus it has an income tax, a sales tax and the highest property taxes in the country. I'm not a fan of NJ!

    Anyway, the state I live in, New Hampshire, has neither type of tax.
    Last edited by Keith and stuff; 10-16-2013 at 02:39 PM.
    Lifetime member of more than 1 national gun organization and the New Hampshire Liberty Alliance. Part of Young Americans for Liberty and Campaign for Liberty. Free State Project participant and multi-year Free Talk Live AMPlifier.

  4. #3

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    What about on a federal level?
    Lifetime gift and estate tax exclusions have risen slightly, to $5,250,000 in 2013, while the estate and gift tax rate increases, from 35% to 40%, are much less than if the Bush tax cuts had expired.
    https://www.fidelity.com/viewpoints/...ate-taxes-2013

    Which states are especially punishing when it comes to Estate taxes, so punishing that their exclusion amount is even lower then the federal government's $5.25 million?
    From West to East they are WA, OR, MN, IL, TN, NY, MD, DC, NJ, CT, MA and RI.
    Lifetime member of more than 1 national gun organization and the New Hampshire Liberty Alliance. Part of Young Americans for Liberty and Campaign for Liberty. Free State Project participant and multi-year Free Talk Live AMPlifier.

  5. #4

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    What are the Property Taxes on Business Inventory in your state?
    Lifetime member of more than 1 national gun organization and the New Hampshire Liberty Alliance. Part of Young Americans for Liberty and Campaign for Liberty. Free State Project participant and multi-year Free Talk Live AMPlifier.






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