Janet wrote:
I've read that there's at least one state (Florida) that has
something resembling a "wealth" or "net worth" tax.I've also
read that there's at least one state that has an "inhertitence"
tax (not to be confused with an "estate" tax).
Can anybody confirm if either of these things are true and,if so,
what state(s) have these taxes?
Thanks in advance!
***********************
Twelve states still collect an inheritance tax. They are: Connecticut,
Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Nebraska, New Jersey,
Oregon, Pennsylvania and Tennessee. It is being phased out in Louisiana
(2004) and Connecticut (2006). In all states, transfers of assets to a
spouse are exempt from the tax. In some states, transfers to children and
close relatives are also exempt.
http://www.retirementliving.com/RLtaxes.html
