An inheritance tax is a tax imposed on a person who inherits property from a deceased person. There is no federal inheritance tax, but some states have an inheritance tax.
In the state of New Hampshire, there is no inheritance tax imposed on individuals who inherit property from a deceased person. This means that beneficiaries in New Hampshire do not have to pay a state tax on the property they receive from an estate. It's important to note that while there is no federal inheritance tax, there is a federal estate tax that applies to the transfer of the decedent's assets before they are distributed to the beneficiaries, but this only affects estates exceeding certain thresholds. Additionally, New Hampshire does not have an estate tax, making it one of the states with favorable tax laws for inheritance.