Ask Experts Questions for FREE Help !
Ask
    wasmks's Avatar
    wasmks Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jul 25, 2007, 09:09 AM
    Inheirtance tax
    Do I have to pay any tax in Florida for inheirtance from an estate in Calif.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #2

    Jul 26, 2007, 10:18 AM
    No. Remember, it's the estate that pays estate taxes, not the heirs, so you owe nothing above and beyond what the estate pays. If there is any estate tax due, the executor is responsible for paying the amounts due out of the estate's assets before distributing the remainder to the heirs. Since the estate is in CA, if there is any tax due it would be owed only to CA and the feds, regardless of what state(s) the beneficiaries live in.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Jul 27, 2007, 11:01 PM
    Agreed!
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

General Tax Query related to Federal and State Tax and Filing Status. [ 3 Answers ]

I am a Married Indian resident. I had visited US in 2006 twice on H1B. I have never been to US earlier. Period of Visit: March 2006-April2006 approx 44 Days - Income from NY. Stayed in NJ August 2006 – Sept 2006 approx 32 Days. - Income from NJ. Stayed in NJ My company paid the salary...

Paycheck without Tax Withholding, how can I pay the tax? (Chinese F1 student on CPT) [ 8 Answers ]

I am currently doing an intern holding F-1 visa and on CPT in New York state. My employer didn’t withhold any tax from my paycheck. She said I am treated as an independent contractor. My income in the CPT period will be $4800, according to 1040-ES (NR), the tax will be $4800*10%=480, which is...

Form 1116, foreign tax credit: Tax paid vs tax accrued, exchange rates and dates [ 2 Answers ]

Hi, I'm applying for foreign tax credit on taxes I've paid / accrued on interest earned in savings accounts and certificate deposits in New Zealand. For cds, the bank statements don't give precise dates for when taxes were withheld. And so I have several questions relating to form 1116, Part II: ...

Document to File prooving exemption of NY State tax and the Federal tax: F1 Status [ 1 Answers ]

Hi experts' Hi What should my employer file, to exempt me from Federal and state tax, I am in NY, and live in NYC, My Visa status is OPT... F1 JazZ

Inheirtance tax question (relative to PA and FL) [ 4 Answers ]

My aunt (Florida resident) died this year and left me $128,000 in POD CDs. I am a Pennsylvania resident. Next year I will probably receive another $100,000 through her probated estate. Sounds like there is no Federal Tax on this (?), but Would there be any PA Taxes on this money (this year or...

View more questions Search