Definition of "Inheritance tax"

Benny  Ergas real estate agent

Written by

Benny Ergaselite badge icon

United Realty Group Inc.

State tax based on the value of property received through inheritance. The tax is paid by the recipient not the estate. Tax paid to the government or state upon the death of the taxpayer based on his or her net worth. The tax is paid by estate not the heirs.

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