I received an inheritance(cash)from my ex-mother-in-law who lived in Texas.I reside in
California.Are there inheritance taxes I'll need to pay?
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I received an inheritance(cash)from my ex-mother-in-law who lived in Texas.I reside in
California.Are there inheritance taxes I'll need to pay?
You need to call the Franchise Tax Board to verify, but I believe there is NO inheritance tax and no estate tax in California.
There is no federal inheritance tax, and neither TX nor CA impose inheritance taxes either:
From the CA web site California Tax Information Center - Special Circumstances
California does not have a gift tax or an inheritance tax.
And from Texas's web site: Inheritance Tax
Please note that no state inheritance return is required on estates with a date of death on or after January 1, 2005.
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