Inheritance

[TAX4US]

Have a VA resident all her life. TP died 2012 leaving cash to 1 of the children who lives in MA. Total value of Estate was 60k all cash. I know that VA doesn't have an inheritance tax but does MA have one? Thanks

[FEDUKE404]

Relevancy

I don't know the answer to your question, but why should MA laws have any effect on a VA estate ? ? ?

[TAX4US]

Some states as I am told have an inheritance tax. I didn't know if MA had one. Thanks

[FEDUKE404]

MA rules

Some states as I am told have an inheritance tax. I didn't know if MA had one. Thanks

There could be exceptions, but I'm not aware of any state where an inheritance tax ever applies to the recipient of the assets.

Subsequent income from said assets is, of course, taxed at whatever state income tax rates apply where the recipient resides at the time of receipt of that income.

[Roland Slugg]

There is no Massachusetts inheritance tax. I know of only one state in the United States that has a true "inheritance tax" ... i.e. one that imposes a tax on beneficiaries ... and that is Kentucky. However, it is possible that there are others.

[FEDUKE404]

State inheritance tax - MORE

There is no Massachusetts inheritance tax. I know of only one state in the United States that has a true "inheritance tax" ... i.e. one that imposes a tax on beneficiaries ... and that is Kentucky. However, it is possible that there are others.

WOW....the things you can learn on these boards:

"Some states impose a separate tax, called an inheritance tax, on a deceased person's property. The tax is paid by the recipient, not the estate. The rate depends on who inherits the property; usually, spouses and other close relatives pay nothing or a low rate. The states that impose an inheritance tax are: Indiana, Iowa, Kentucky, Maryland, Nebraska, New Jersey, Pennsylvania and Tennessee."

SOURCE: http://www.retirementliving.com/taxes-by-state

And humblest apologies to TAX4US

FE

[Kram BergGold]

MA Inheritance Tax

The MA Inheritance Tax would not apply in this situation.

[FEDUKE404]

Answered

The MA Inheritance Tax would not apply in this situation.

As noted earlier:

There is no Massachusetts inheritance tax. I know of only one state in the United States that has a true "inheritance tax" ... i.e. one that imposes a tax on beneficiaries ... and that is Kentucky. However, it is possible that there are others.

and my own cut/paste:

"Some states impose a separate tax, called an inheritance tax, on a deceased person's property. The tax is paid by the recipient, not the estate. The rate depends on who inherits the property; usually, spouses and other close relatives pay nothing or a low rate. The states that impose an inheritance tax are: Indiana, Iowa, Kentucky, Maryland, Nebraska, New Jersey, Pennsylvania and Tennessee."

FE

[Burke]

Have a VA resident all her life. TP died 2012 leaving cash to 1 of the children who lives in MA. Total value of Estate was 60k all cash. I know that VA doesn't have an inheritance tax but does MA have one? Thanks

You did not ask but I will volunteer that the responsibility for paying any inheritance tax in a state that requires it of the recipient, would be the responsibility of that recipient and his/her tax preparer. You (or the deceased's estate) would not be required to do anything in the state the resident lived in and in which death occurred.