Do I Have to Pay Tax on My Inheritance?

Contributing sentiments towards policy:

53% : Overall, inheritance tax rates vary based on the beneficiary's relationship to the deceased person.
51% : States have their own exemption thresholds as well.
50% : If the value of the assets being transferred is higher than the federal estate tax exemption (which is $12.06 million for tax year 2022 and $12.92 million for tax year 2023), the property can be subject to federal estate tax.
48% : Since the Supreme Court's ruling, the same rule applies to same-sex spouses.Children and grandchildren who receive an inheritance aren't taxed either if the deceased person lived in any of these four states: New Jersey, Kentucky, Iowa or Maryland.
44% : Avoiding Inheritance TaxBesides getting married or convincing your family members to move, there are other steps you can take if you're trying to figure out how to avoid an inheritance tax.

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