MoneyLion on MSN
Estate tax vs. inheritance tax: What’s the difference?
The estate pays estate tax before assets are distributed, while inheritance tax is paid by the beneficiaries who receive the ...
SmartAsset on MSN
Inheritance tax planning: Rules and exemptions
An inheritance can add to your finances, but taxes may reduce the amount that reaches you. Some states tax beneficiaries directly, while separate estate taxes may apply before assets are distributed.
An inheritance tax is levied when a beneficiary inherits assets from the estate of someone who died. There is no federal inheritance tax, but five states currently levy this tax: Kentucky, Maryland, ...
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