Are taxes paid on inheritances?

Answer Yes, in the United States, there are federal taxes on inheritance. If you are the beneficiary of an estate, then an inheritance tax will be levied upon you. This is different from estate taxes, whi... Read More »

Top Q&A For: Are taxes paid on inheritances

Who paid taxes in 1950?

In 1950, there were 53,060,098 tax returns filed. Of that number, 14,873,416 filers had zero tax liability (after their deductions and adjustment to income). The tax history, and tax rates changed ... Read More »

How do I know how much I've paid in property taxes?

The County Assessor's office should send you a statement @ the end of the year to be used for tax purposes. If they don't, contact their office. The information is probably on-line.

What Are Corporate Taxes Paid on?

All sources of income, with few exceptions, are taxable by the federal government. On a corporate tax return, which is called a Form 1120, taxable proceeds are broken down into type. These classes ... Read More »

Why are sales taxes paid?

Sales tax is a state tax assessed on purchases by individuals and businesses. The tax rate varies from state to state, where it is decided by individual state legislatures. Localities also occasion... Read More »