What are the Estate and Inheritance Taxes in your state?

Joined
Feb 17, 2009
Messages
10,554
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-map-inheritance-and-estate-tax-rates-and-exemptions

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

1395844_619242188119031_525355358_n.jpg

I found this on the Free State Project Facebook page.
 
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:
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/personal-finance/estate-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.
 
Back
Top