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Topic: Inheritance tax

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	Inheritance Tax UK - Planning, Exemptions & Death Duties
		IHT (sometimes referred to as the death duties tax) is payable on estates of all UK domiciled individuals with a value in excess of the nil rate band (2003/2004 £255,000).
		Inheritance tax is not paid where your estate passes to your spouse, but if you do not have a spouse, or on your spouses subsequent death, inheritance tax is paid by those who inherit.
		Inheritance tax must be paid by or deducted from the estate before your assets are distributed.
	www.inheritance-tax-uk.co.uk (384 words)

	Inheritance Tax
		Inheritance and estate taxes are imposed on decedents' estates that exceed the maximum single exemption.
		Inheritance tax is due on the net estate as defined in Tennessee Code Annotated.
		Estate tax is based on the difference between the inheritance tax and the “state death tax credit” allowed on the federal estate tax return.
	www.state.tn.us /revenue/tntaxes/inherit.htm (77 words)

	Kentucky: Department of Revenue - Inheritance & Estate Tax
		Inheritance and Estate Taxes are two separate taxes that are often referred to as death taxes since both are occasioned by the death of a property owner.
		The inheritance tax is a tax on the right to receive property from a decedent's estate; both tax and exemptions are based on the relationship of the beneficiary to the decedent.
		The estate tax or "pickup tax" is a tax on the estate equal to the amount by which the credit for state death taxes allowable under the federal estate tax law exceeds the Kentucky inheritance tax.
	revenue.ky.gov /individual/inherittax.htm (248 words)

	Inheritance Tax booklet - Iowa Dept of Revenue
		The inheritance tax return must include a list of the property in the estate and the value of the property, along with a list of liabilities or debts and deductions.
		Inheritance tax is a tax on the share going to a beneficiary, and it is the beneficiary who is responsible for payment of the tax.
		The tax clearance releases the property from the inheritance tax lien and permits the estate to be closed.
	www.state.ia.us /tax/educate/78517.html (1879 words)

	Inheritance Tax Trusts
		Inheritance tax Trusts are devices where an individual can make gifts for the benefit of others, and also help to avoid inheritance tax.
		The benefit of using trusts with inheritance tax planning is that these gifts can pass outside of the estate of the settlor, and therefore help to avoid inheritance tax.
		The use of inheritance tax trusts is a very complex area, and we would always recommend that you discuss your situation with one of our professional advisers before taking any decisions.
	www.inheritance-tax-uk.co.uk /inheritance-tax-trusts.html (189 words)

	Inheritance tax Information
		Inheritance tax, estate tax and death duty are the names given to various taxes which arise on the death of an individual.
		In United States tax law, there is a distinction between an estate tax and an inheritance tax: the former taxes the personal representatives of the deceased, while the latter taxes the beneficiaries of the estate.
		Inheritance tax in Belgium is collected at the federal level and distributed to the regional level.
	www.bookrags.com /wiki/Inheritance_tax (349 words)

	Allegheny County Register of Wills (Site not responding. Last check: )
		Tax is imposed at 4.5% for lineal heirs, and 5% discount is permitted since payment was made within 3 months of the date of death.
		The rate of tax imposed on transfers to or for a surviving spouse are based on the date of death of the decedent and taxed as follows:
		Inheritance Taxes are payable to the Register of Wills of the county in which the decedent resided.
	www.county.allegheny.pa.us /regwills/regtax.asp (1306 words)

	Inheritance Tax (Site not responding. Last check: )
		Inheritance tax is known in some countries as a "death duty" and is occasionally called "the last twist of the taxman's knife".
		Inheritance tax is not the same as estate tax, which is imposed on the total value of a person's estate when that person dies.
		Rather, inheritance tax is imposed on the property that is passed to an heir.
	www.investopedia.com /terms/i/inheritancetax.asp (321 words)

	New Jersey Transfer Inheritance Tax
		The Transfer Inheritance Tax recognizes five beneficiary classes, as follows: Class ³A² - Father, mother, grandparents, spouse, child or children of the decedent, adopted child or children of the decedent, issue of any child or legally adopted child of the decedent and step-child of the decedent.
		ESTATE TAX In addition to the inheritance tax, the State of New Jersey imposes an estate tax on the estate of certain resident decedents.
		The estate tax is designed to absorb any portion of the credit allowable for State death taxes under the federal estate tax law that is not fully taken up by the aggregate amount of all death taxes paid to any State, United States territory or the District of Columbia.
	www.njlaws.com /inheritance_tax.htm (2097 words)

	UK Inheritance Tax Planning and Independent Financial Advice
		Inheritance Tax has many exemptions and reliefs and a useful starting point is to consider them.
		A bespoke solution to inheritance tax is necessary as it will depend on the circumstances of each case.
		A range of inheritance tax solutions is available which, individually or in combination, can meet most people's objectives and circumstances, and achieve a great deal.
	www.laterlife.com /laterlife-ifa-inheritance-tax-planning.htm (525 words)

	Inheritance Tax
		Inheritance Tax is often described as a voluntary tax because of the many steps that can be taken to escape it.
		When tax planning for larger estates, the trick is to strike a balance between leaving sufficient wealth for the spouse whilst using up the “nil-rate” band so as to pass wealth to the children or other selected beneficiaries in a tax efficient manner.
		It is of course possible to mitigate and plan for Inheritance Tax during your lifetime and there are a number of options open to you.
	www.bgyifa.com /html/inheritance_tax.html (1629 words)

	Inheritance Tax : Directgov - Money, tax and benefits
		Inheritance Tax is the tax that is paid on your 'estate'.
		In most cases, Inheritance Tax must be paid within six months from the end of the month in which the death occurs, otherwise interest is charged on the amount owing.
		Tax on some assets, including land and buildings, can be deferred and paid in instalments over 10 years.
	www.direct.gov.uk /en/MoneyTaxAndBenefits/Taxes/InheritanceTaxEstatesAndTrusts/DG_4016736 (851 words)

	Indiana Department of Revenue - Indiana Inheritance Tax Information
		In general, estates or beneficiaries of Indiana residents are required to file an inheritance tax return (Form IH-6) if the value of transfers to any beneficiary is greater than the exemption allowed for that beneficiary.
		A surviving spouse and charitable organizations are 100% exempt from inheritance tax.
		An inheritance tax return will be required if his estate is valued at more than $200,000.
	www.in.gov /dor/individual/inheritance.html (298 words)

	Citizens Against Government Waste: Inheritance Tax
		Currently, the first $675,000 of inherited property inherited is exempt from federal estate taxes; anything in excess of this amount is taxed at a rate between 18 and 55 percent.
		Because of this high tax bill, more than 70 percent of inherited family-owned businesses are forced to liquidate their assets.
		Despite such stories, proponents of the estate tax say the death tax is beneficial to the economy and would be "risky" to eliminate because it could cause a budget deficit.
	www.cagw.org /site/PageServer?pagename=policy_Inheritance_Tax (998 words)

	BBC NEWS \| Business \| Reducing inheritance tax
		He says there is no inheritance tax to pay because his uncle's total estate value is under the threshold.
		As Inheritance Tax (IHT) is linked inextricably to death, it's a subject about which none of us like to think about.
		In the specific case in point, the £38,000 gift from his uncle's estate will not be subject to Inheritance Tax because it falls within the Nil Rate Band, assuming that this was the sum total of his estate.
	news.bbc.co.uk /1/hi/business/3706945.stm (574 words)

	Maryland Estate Taxes - Inheritance tax
		The inheritance tax is imposed on the clear value of property that passes from a decedent to some beneficiaries.
		The tax is levied on property that passes under a will, the intestate laws of succession, and property that passes under a trust, deed, joint ownership, or otherwise.
		The tax is collected by the Register of Wills located in the county where the decedent either lived or owned property.
	individuals.marylandtaxes.com /estatetax/inherit.asp (225 words)

	Department of Revenue: Business Taxes General Oregon Inheritance Tax
		For tax years 2001 and prior, the Oregon inheritance tax (Form IT-1) return was required to be filed, whenever a federal estate tax return (Form 706) was required to be filed.
		For inheritance tax purposes, an executor is a personal representative, administrator, fiduciary, or custodian of the property, or any person who has actual or constructive possession of the decedent's property.
		If an amended federal estate tax return (Form 706) is filed, or an adjustment made which results in a change in the amount of tax, it is the executor's responsibility to file an amended Oregon inheritance tax return or to notify the department of the change in writing within 90 days.
	www.oregon.gov /DOR/BUS/inher-general.shtml (1028 words)

	Inheritance tax now affects us all - Telegraph
		When it was first introduced as capital transfer tax in 1975 by the then Labour Government it was intended to both raise money and re-distribute wealth from the rich to the poor – it was even promoted as a Robin Hood tax.
		With asset values rising on average at 7.5 per cent per annum, but with the inheritance tax threshold rising at only 2.5 per cent in line with general inflation, more households are being drawn into the net every year.
		The Tory sponsored Tax Matters report has suggested that IHT could be scrapped – although George Osborne, shadow chancellor, has said he will not commit to any proposal for now.
	www.telegraph.co.uk /money/main.jhtml?xml=/money/2006/10/23/cmguru25.xml (506 words)

	Inheritance Tax Exemptions
		The inheritance tax law in the UK is very complex, and it pays to consult with a properly qualified financial adviser and/or a solicitor before taking any action.
		However, the following inheritance tax exemptions mean that tax can be completely avoided in many cases.
		However, you must justify that you can maintain your current standard of living; The use of these inheritance tax exemptions can reduce greatly the amount of tax that will be paid.
	www.inheritance-tax-uk.co.uk /inheritance-tax-exemptions.html (143 words)

	Pennsylvania inheritance tax
		Recently, however, when the Pennsylvania legislature talked of taxes, they made a significant change to the inheritance tax law that amounts to huge tax-cut.
		The tax was imposed because the account was owned solely by the husband and not jointly by the spouses.
		That was the case in Pennsylvania until last year when the legislature finally succumbed to the political pressure and got in line with the rest of the country by eliminating inheritance tax on transfers to a surviving spouse.
	www.estateattorney.com /pit.htm (500 words)

	HM Revenue & Customs: HMRC Inheritance Tax (IHT)
		IHT may be payable on an estate when someone dies, or when assets are transferred into a discretionary trust or to a company.
		If you are dealing with an estate and do not know whether or not inheritance tax will be due, our Customer guide to IHT will help you to decide.
		If there is any IHT to pay, the tax must be paid before the probate registry will issue a grant and form IHT200 should be completed.
	www.hmrc.gov.uk /cto/iht.htm (301 words)

	Inheritance Tax Advice \| This is Money
		Couples who have taken steps to avoid large bills for inheritance tax are being advised to check that their tax planning will stand up to scrutiny...
		Tax experts have welcomed the news that gifts put into special trusts for children will not be hit by new IHT tax measures...
		Inheritance tax should be abolished because it is an unfair penalty on hard-working families, a leading business group said yesterday...
	www.thisismoney.co.uk /iht (390 words)

	Inheritance Tax
		For inheritance tax purposes, any references to the Internal Revenue Code (IRC) are to the IRC in effect as of December 31, 2000.
		If an inheritance tax return is due for the estate of a 2002 decedent, the federal unified credit will be limited to $192,800 (the equivalent of a $600,000 exemption).
		The Oregon inheritance tax on residents is determined by multiplying the state death tax credit that would be imposed if all of the decedent’s property were located in Oregon by the ratio of the gross value of their Oregon property to the gross value of all property included in their gross estate.
	www.orcpa.org /showresource.asp?Show=1200 (1763 words)

	Inheritance tax \| Samizdata.net
		He accepted that inherited wealth (whether a house, an estate, or a business) is not evil (a big advance for the Labour party) and that it was wrong to tax the same earnings twice (once with income tax and then with the death tax).
		For example, instead of living in houses inherited from their parents people would have to sell their houses (to pay the big inheritance tax) and then the government would have to house them (or leave them on the street).
		Obviously, the overall tax burden should be slashed, but I don't think it is unwise to nominate which taxes in particular ought to provide the bulk of the revenue.
	www.samizdata.net /blog/archives/2006/08/inheritance_tax.html (1667 words)

	Inheritance tax
		Each partner's estate is assessed individually at the time of their demise for Inheritance Tax purposes and each partner qualifies for the Nil Rate Band providing together an aggregate exemption of £570,000.
		Smith have £600,000 upon the death of the first spouse £285,000 is given away free of Inheritance Tax using the Nil Rate Band, leaving £315,000 to the second spouse.
		Inheritance tax planning is usually a complex and long-term affair and professional advice should always be taken.
	www.clickdocs.co.uk /inheritance-tax.htm (636 words)

	Inheritance Tax Planning
		Proper inheritance tax planning could save your family hundreds of thousands of pounds.
		It contains both simple and sophisticated inheritance tax planning strategies - armed with these you and your family should be able to pay much less inheritance tax...
		A regular speaker on tax matters, he was recently invited to talk to over 450 people at the latest Property Investor Show.
	www.taxcafe.co.uk /inheritance-tax.html (641 words)

	Swann targets inheritance tax again (Site not responding. Last check: )
		The tax can be up to 15 percent of the estate's value, depending on a beneficiary's family relationship to the deceased.
		Lower taxes would promote business growth and stimulate the economy enough to replace the inheritance tax and other business taxes he wants to phase out, Mr.
		Pennsylvania's inheritance tax rate is 4.5 percent for the deceased's children, grandchildren or parents; 12 percent for siblings and 15 percent for other heirs.
	www.post-gazette.com /pg/06250/719703-178.stm (456 words)

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