â¤ï¸Posting twice a day! ðTrying to post the funniest texts daily! â¨First like gets a follow! ð±Kik: text. 1  260 posts.  86.7k followers.
The Vermont Estate Tax System. Vermont recently enacted new legislation that imposes a state estate tax regardless of whether there is a federal estate tax imposed. Under this new system, estates in excess of $2.75 million dollars are subject to tax (it is unclear whether lifetime gifts are included in this threshold).
Inheritance isn't subject to income tax, there's no federal inheritance tax and any estate tax is owed by the estate, not you. There are circumstances that require you to pay tax on your inheritance, but they're the exception rather than the rule. Inheritance Tax Seven states -- Indiana, Iowa, Kentucky, Maryland, Nebraska, New Jersey and Pennsylvania -- impose an inheritance tax, though the Indiana tax ends in 2022.