1. If the inheritance amount is less than 1 ten thousand dollars, it is 18%.
2.20% of the inheritance amount is less than $20,000.
3.49% of the inheritance amount is less than 2.5 million US dollars.
4.50% of the inheritance amount is more than $2.5 million.
The American government imposes high taxes on the transfer of personal assets. Although this tax is commonly known as inheritance tax, it actually includes three kinds of personal asset transfer tax: one is inheritance tax, the other is gift tax, and the third is intergenerational asset transfer tax.
The heritage designated by the government is equivalent to all the property owned by a person before his death, including movable and immovable property, tangible and intangible personal property. Such as money, real estate, stocks, company shares, bonds, insurance policies, pensions, and property rights in intellectual property rights.
The federal inheritance tax is excessively progressive, and the tax rate is divided into 17 grades, ranging from 18% to 55%. If a person wants to pass on his property to future generations after death, he needs to make a will before the death of the United States, clearly stating who is the heir to the property.
If there is no will, a person's property will automatically pass to his spouse after his death. If a person has neither a will nor a spouse before his death, it will be troublesome for who will inherit the property once he dies. At that time, a court will decide whether this person's descendants can legally inherit property.
Another troublesome aspect of inheritance in the United States is that the inheritance tax must be paid by the heirs, and the tax must be paid before the property can be inherited and distributed. According to the law, the estate administrator or executor must pay taxes in cash within 9 months after the death of the original property owner before distributing the estate.
If you don't have enough money at the moment, you can apply for deferred payment, but the period should not exceed 6 months. Paying taxes first and then distributing property has become the biggest criticism of American inheritance tax, because this way will make the heirs fall into the dilemma of not paying taxes on time because of insufficient cash.
Of course, the inheritance tax in the United States is not the whole inheritance obtained by the heirs. For a person's legacy, debts, funeral expenses and charitable donations can be deducted first, then personal exemption can be deducted, and the remaining legacy property can be taxed again.
Extended information American inheritance tax refers to the tax levied by the US federal government and some state governments on the estate of the deceased. According to the different collection levels, it is divided into federal inheritance tax and state inheritance tax. The federal inheritance tax in the United States adopts the total inheritance tax system.
Taking the total amount of the deceased's estate at the time of death as the tax object, the executor as the taxpayer, and the taxable estate amount as the tax basis.
Taxable inheritance is the balance of the total estate after deducting the debts, funeral and related expenses and inheritance losses of the deceased, and then deducting the amount allowed by tax laws such as marriage, charity and bequest. The federal inheritance tax is subject to an excessive progressive tax rate of 2 1, with a minimum tax rate of 8% and a maximum tax rate of 50%.
The calculation of tax amount is divided into two steps: the first step is to calculate the payable inheritance tax amount according to the taxable inheritance amount and the applicable tax rate; The second step is to deduct the unified credit and tax credit allowed by the tax law from the inheritance tax payable, which is the inheritance tax actually payable by taxpayers.
Only 10 states in the United States collect inheritance tax. The calculation and collection method of state inheritance tax is basically similar to that of federal inheritance tax, but the tax rate is lower than that of federal inheritance tax, and the preferential amount is less.
When the federal and state inheritance taxes are levied at the same time, in order to avoid double taxation, the state inheritance tax credit is allowed to be deducted when calculating the actual taxable amount of the federal inheritance tax.
References:
American inheritance tax-Baidu Encyclopedia