When a person dies, the beneficiaries of the estate have to pay an inheritance tax. The amount of tax, or the inheritance tax threshold, that the person pays depends on the relationship between the deceased and the beneficiary. If the beneficiary is an immediate family member, like minor or spouse, the taxed amount is the least, while distant relatives and friends are taxed the most. In some states, there is a flat rate for inheritance tax, and this rate has to be paid regardless of the relationship between the deceased and the beneficiary.
Tags: | ramblings | fashion industry | global warming |
June 2, 2011
Inheritance Tax Threshold
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