The estate pays estate tax before assets are distributed, while inheritance tax is paid by the beneficiaries who receive the ...

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, ...

When someone dies, states might impose an inheritance tax on money or other assets transferred from the deceased person’s estate to the heirs or surviving family members. But most states do not impose ...

If you received a windfall from a loved one, you may wonder whether you need to pay an inheritance tax on your distribution. “An inheritance tax is often used synonymously with estate tax. There’s a ...