The Death Tax – Taxes on Death
It has been said that the only certainties in life are death and taxes. Thankfully, across the states it’s becoming less likely for Americans to be actually taxed on death. Recently, the Wall Street Journal had an outstanding editorial on the Death Tax (otherwise known as the estate or inheritance tax) across the 50 states, titled “The Die Harder States.” The editorial points out a positive trend: four states have recently scraped their death tax. Recently, we chronicled North Carolina and Indiana’s pro-growth move to eliminate their death tax. With the addition of Ohio and Tennessee to the “States that have recently repealed the death tax”, there are now 18 states (plus the District of Columbia) that see it fit to tax the hard-earned and previously-taxed assets of the deceased as they are passed on to their heirs.
Read full post at http://www.americanlegislator.org/death-tax/.