Legal Question in Wills and Trusts in North Carolina
which state do i pay inheritance tax to
My aunt died in Virginia, her property that is my inheritance is in Virginia which I have sold, I live in North Carolina. Virginia doesn't have inheritance tax, but NC does, which state applies, the state that the property is in, or the state I live in? I have to pay federal death tax too, right?
2 Answers from Attorneys
Re: which state do i pay inheritance tax to
Virginia's laws apply.
Re: which state do i pay inheritance tax to
Just to clarify - the real property laws of Virginia apply to the property. The laws of Virginia also apply to the Estate tax return. Federal estate taxes are when the decedent's estate totalled $1.5 million (if he or she died in 2004).
For your own tax return, you should consult with your accountant.
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