The amount of tax calculated on the assets received in inheritance from a deceased person is called the inheritance tax. The inheritance tax rate and exemption slabs are decided based on the relationship of the beneficiary with the deceased person. Different states have different tax rates and exemption slabs.
The basic understanding is that the closer the beneficiary is, the more the exemption is allowed. In most states, the immediate family members are exempt from any inheritance taxes. Whereas the minimum threshold is $50,000 for most of the states in which case the beneficiaries other than immediate family members will have to pay taxes on amounts above the threshold.
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