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inheritance tax

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 Tennessee, there is no longer an inheritance tax. The Tennessee inheritance tax was fully repealed effective January 1, 2016. Prior to its repeal, the tax was imposed on individuals who inherited property from a deceased person, with the amount of the tax varying based on the relationship of the inheritor to the deceased and the value of the inherited property. However, since the repeal, beneficiaries in Tennessee do not have to pay state inheritance tax on property they receive. It's important to note that this is separate from the federal estate tax, which is a tax on the transfer of the estate of a deceased person before distribution to the beneficiaries, and only applies to very large estates.

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Taxes

inheritance tax

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Tennessee State Code

Tennessee State Code

Taxes

inheritance tax

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