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  1. #1
    Join Date
    Jan 2007
    Posts
    17

    Default State Inheritance Taxes

    I,m shortly due to inherit approximately $15,000 from my mother' will, which was held in probate in Ohio.I live permanently in California.In January 2008, what state tax liability will I have due to this inheritance, and just to be sure will I owe State taxes to Ohio because of it?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Inheritance

    California has a limited estate tax, which only applies under circumstances where there is a federal gift tax obligation, "equal to the portion, if any, of the maximum allowable amount of the Credit for State Death Taxes, allowable under the applicable federal estate tax law". That credit has been phased out, effectively eliminating the California estate tax for new estates.

  3. #3
    Join Date
    Apr 2007
    Posts
    62

    Post Re: State Inheritance Taxes

    I am not specifically familiar with CA tax law, but usually it is the estate that pays the taxes and NOT the recipient.

  4. #4
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: State Inheritance Taxes

    The estate would pay the tax, but from what was posted there is not presently a tax to pay.

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