More details to this question:
I live in Virginia -- where I understand there is no Estate Tax. My father lived in Penna. Will I have to pay an estate or inheritance tax on any bequest from my father's estate? The estate is probably $150,000 or less.
1 ANSWER
Robert Barnhill III
Connie - no. There is no federal estate tax unless a person transfers over $5 million either during life or at death. It is my understanding that there will be no state death tax even in Pennsylvania, since your dad's estate is under $600,000.
Answered on Jan 25th, 2013 at 6:10 PM