Search results
Nov 14, 2022 · Only six U.S. states levy an inheritance tax: Iowa, Kentucky, Maryland, Nebraska, New Jersey, and Pennsylvania. Six states collect a state inheritance tax as of 2022, and one of them—Maryland—collects an estate tax as well. The chart below shows the 2022 estate taxes for 12 states and the District of Columbia, as well as the exemption amount.
Dec 18, 2023 · As you can see, there are only six states with inheritance taxes. Overall, inheritance tax rates vary based on the beneficiary’s relationship to the deceased person.
Jun 21, 2022 · Explore 2022 state estate tax rates and state inheritance tax rates. Compare estate tax rates by state and inheritance tax rates by state In addition to the federal estate tax, with a top rate of 40 percent, some states levy an additional estate or inheritance tax.
Oct 10, 2023 · Estate Tax Rates Inheritance tax Rates; Connecticut: $12,920,000 : 12%: Hawaii: $5,490,000 : 10.0% - 20.0%: Illinois: $4,000,000 : 0.8% - 16.0%: Iowa: 0-6%: Kentucky: 0-16%: Maine: $6,410,000 : 8.0% - 12.0%: Maryland: $5,000,000 : 0.8% - 16.0%: 0-10%: Massachusetts: $2,000,000 : 0.8% - 16.0%: Minnesota: $3,000,000 : 13.0% - 16.0%: Nebraska: 0 ...
Iowa: The top inheritance tax rate is 6 percent ( no exemption threshold) Kansas: No estate tax or inheritance tax.
Feb 20, 2023 · The six states that impose an inheritance tax are Iowa, Kentucky, Maryland, Nebraska, New Jersey and Pennsylvania. Inheritance tax only applies when the person who dies and passes on...
Feb 24, 2021 · Of the six states with inheritance taxes, Nebraska has the highest top rate at 18 percent. Maryland imposes the lowest top rate at 10 percent. All six states exempt spouses, and some fully or partially exempt immediate relatives.
