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1. • • As of 2024, only six states — Iowa, Kentucky, Maryland, Nebraska, New Jersey, and Pennsylvania — impose a tax on inherited assets.
     www.nerdwallet.com › article › taxes

     Inheritance Tax: What It Is, How It Works - NerdWallet

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   Do all states have inheritance taxes?

   • Several states have their own estate taxes with lower thresholds, while six have inheritance taxes. Because these taxes vary by state, location plays a key role in how much an estate and the beneficiaries of an inheritance pay. Keep reading for the most recent estate and inheritance tax rates by state.

   2023 Estate and Inheritance Taxes by State | The Motley Fool

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   Which state has the highest inheritance tax?

   • Washington has the highest estate tax at 20%, which is applied to the portion of an estate's value greater than $11,193,000. Inheritance tax rates depend on the beneficiary's relation to the deceased, and, in each state, certain types of relationships are exempt from inheritance tax. Estate vs. inheritance taxes: What's the difference?

   2023 Estate and Inheritance Taxes by State | The Motley Fool

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   How many states impose estate tax?

   • In addition to the federal estate tax , with a top rate of 40 percent, some states levy an additional estate tax or inheritance tax . Twelve states and the District of Columbia impose estate taxes and six states impose inheritance taxes. Maryland is the only state to impose both an estate tax and an inheritance tax.

   2023 State Estate Taxes and State Inheritance Taxes - Tax Foundation

   taxfoundation.org/data/all/state/state-estate-tax-inheritance-tax-2023/

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   Which states have the highest estate tax rates?

   • In most states, estate taxes are progressive: the tax rate increases with the total value of the decedent’s assets. Two states, Connecticut and Vermont, have flat estate taxes with a single tax rate. Hawaii and Washington have the highest top rates in the nation at 20 percent.

   2023 State Estate Taxes and State Inheritance Taxes - Tax Foundation

   taxfoundation.org/data/all/state/state-estate-tax-inheritance-tax-2023/

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3. www.aarp.org › money › taxes17 States With Estate Taxes or Inheritance Taxes - AARP

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   Mar 9, 2022 · Eleven states have only an estate tax: Connecticut, Hawaii, Illinois, Maine, Massachusetts, Minnesota, New York, Oregon, Rhode Island, Vermont and Washington. The District of Columbia does, as well. Estate taxes are levied on the value of a decedent’s assets after debts have been paid.

4. www.fool.com › research › estate-inheritance-taxes2023 Estate and Inheritance Taxes by State | The Motley Fool

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   • States That Don't Have Estate Or Inheritance Taxes
   • States with Estate Taxes, Inheritances Taxes, Or Both
   • Connecticut Estate Taxes
   • Hawaii Estate Taxes

   The following states don't have estate or inheritance taxes: 1. Alabama 2. Alaska 3. Arizona 4. Arkansas 5. California 6. Colorado 7. Delaware 8. Florida 9. Georgia 10. Idaho 11. Indiana 12. Kansas 13. Louisiana 14. Michigan 15. Mississippi 16. Missouri 17. Montana 18. Nevada 19. New Hampshire 20. New Mexico 21. North Carolina 22. North Dakota 23. ...

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   Now let's look at the states with estate taxes, inheritance taxes, or both. Note that not all states have released their 2023 tax rates yet. We've included the most recent estate and inheritance tax rates that are currently available for each state.

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   Connecticut has a flat-rate estate tax of 12% with an $11.4 million annual exclusionas of 2023. The total tax that any estate must pay is capped at $15 million.

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   Hawaii has an estate tax on estates worth more than $5.49 million. Estate tax rates range from 10% to 20%. Here are the Hawaii estate tax rates:

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5. www.jrcinsurancegroup.com › the-complete-list-ofThe Complete List of States with Estate Taxes (Updated for ...

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   Does My State Have an Estate Tax? Currently in the United States, 12 states and DC have some form of an estate tax. Like Federal estate taxes, state estate taxes are only levied against an estate if its value exceeds their state’s current estate tax exemption.

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6. www.policygenius.com › estate-planning › state-byInheritance Taxes by State (2024) – Policygenius

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   Jan 17, 2023 · There is no federal inheritance tax and only six states have a state-level tax: Iowa, Kentucky, Maryland, New Jersey, and Pennsylvania. Below are the ranges of inheritance tax rates for each state in 2023. Note that historical rates and tax laws may differ.

7. taxfoundation.org › data › allDoes Your State Have an Estate or Inheritance Tax?

   taxfoundation.org › data › all

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   Oct 10, 2023 · Two states, Connecticut and Vermont, have flat estate taxes with a single tax rate. Hawaii and Washington have the highest top rates in the nation at 20 percent. Eight states and the District of Columbia are next with a top rate of 16 percent.

8. taxfoundation.org › data › allStates With Estate Tax or Inheritance Tax, 2021 | Tax Foundation

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   Feb 24, 2021 · Which states have an inheritance tax? Explore 2021 state estate tax rates and 2021 state inheritance tax rates. In addition to the federal estate tax, with a top rate of 40 percent, some states levy an additional estate or inheritance tax.

9. www.businessinsider.com › inheritance-taxInheritance Tax: Who Pays, How to Calculate, and How to Avoid It

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   Oct 23, 2023 · Which states have inheritance tax? Only six states impose an inheritance tax on beneficiaries for 2023: Iowa: 2% to 4%; Kentucky: 4% to 16%; Maryland: 10%; Nebraska: 1% to 18%; New...