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2011年8月1日星期一

I live in Florida and will inherit money from my stepdad from Pennsylvania. Do I pay tax to Pa?

-Pennsylvania is an oddball as it taxes all inheritances except between spouses. And every dollar is taxed unlike at the federal level As a lineal descendent (PA considers stepchildren lineal), the tax rate is 4.5%. If the will is probated, the estate should make sure this is paid before it is paid out.your relative's estate will take care of any taxes that are due in that state

inheritance is not taxable to the recipient except in some states and Fla has no income tax so you would not be liable for any tax in that state, your state of residence
Settling estates is very complicated - even the most simple. Someone will hire a lawyer and he will take care of everything. Without knowing all the details it is impossible to answer your question. Where you live is not relevant.
An inheritance received is not taxable income. Go to IRS.GOV and check this out for yourself in Pub 17 under the listed taxable items and non-taxable items.

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