What are the standard inheritance taxes in MA?

Answer by  Liz59 (10966)

I believe the standard amount for the inheritance taxes as well as any other taxes in MA is actually 10%.

Answer by  LeheckaG (1826)

In addition to Federal (IRS.Gov) Estate-Taxes, Massachusetts (Mass.Gov) taxes (Form M-706) the decedent's-estate's-value including-lifetime-gifts & other-adjustments BEFORE distribution to any-beneficiaries. Estate's first $1,000.000.00 of valuation is exempted. Massachusetts's estate-tax (ranging from 0% to 16%) is equal to the Federal-credit for State-death-taxes (IRS-code Section 2011) in effect on 2000, Decemember 31st.

Answer by  luvlexis83 (798)

Mississsippi, New York, Ohio, and Massachusetts are the only states in the United states that do not have a standard inheritance tax.

Answer by  mrsmyers (474)

MA is one of a few states that does not have a standard inheritance tax. I do not remember what the other states are but I know there are a couple of them and MA is included in that list. Normally states like PA have a tax of at least 10 percent.

Answer by  kv1238 (81)

There is no standard inheritance tax in MA. There is an estate tax. The form that is to be filled out is called the Massachuessetts Estate Tax Return. This is done if the gross value of the persons estates along with their taxable gifts exceeds the amount that the IRS has excluded for that particular year following December 31, 2000.