Inheritance Tax
Learn inheritance tax rates by state, exemptions for beneficiaries, and how six states tax inherited assets. Discover planning strategies to minimize tax imp...
Which states have inheritance tax and how much will I pay?
Only six states currently impose inheritance taxes: Iowa, Kentucky, Maryland, Nebraska, New Jersey, and Pennsylvania. Tax rates and exemptions vary significantly by state and your relationship to the deceased. For example, spouses are typically exempt in all inheritance tax states, while children may face different rates than distant relatives or non-relatives. Some states exempt children entirely, while others impose rates ranging from single digits to over 15% depending on the inheritance amount and beneficiary class.
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