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| *Loan,banking and credit>>>inheritance tax |
If I live in arkansas and recieving inheritance of 15000 out of texas would I have to pay taxes?how much? |
If I live in arkansas and recieving inheritance of 15000 out of texas would I have to pay taxes?how much? I am far from being a tax accountant. I don't know that Texas has any inheritance taxes, but It might be better to check some place other than here for that information. I've heard from my folks (we live in Texas) that, yes, one does have to pay an inheritance tax. Of course, this is cross state... so I don't even know if Texas law applies or Arkansas law applies. The Texas tax forms look confusing. I'm not even sure this one is the correct form. Possible needed Texas Tax form (?) http://www.cpa.state.tx.us/taxinfo/taxfo... Oh, but I found this interesting little tidbit on http://window.state.tx.us/taxinfo/int_ra... "For Inheritance Tax assistance call toll free at 1-800-531-5441, extension 5-0132." May be useful. Good luck. if it is an inheritance from someone dying, you don't have to pay any taxes. You jsut pay taxes on the interest. You should not have to pay taxes on your inheritance. I know I did not have to when my parents passed away. Best bet is to check with an attorney. Many will give you a free consultation. Just make sure you bring all of your documents with you. Best wishes. I think your inheritance has to be over $500,000.00 before you have to pay taxes on it. |
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