How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ed Johnson Your Own Question
Ed Johnson
Ed Johnson, Tax Preparer
Category: Tax
Satisfied Customers: 10760
Experience:  GPHR Cert; U.S. Treasury Tax Advocacy Panel appointee
Type Your Tax Question Here...
Ed Johnson is online now
A new question is answered every 9 seconds

State of Maine Inheritance Tax

This answer was rated:

I stand to inherit approximately $253,000 in stocks and bonds. Will I have to pay tax on this inheritance at the time it is turned over to me? Or, only when I take out the money to spend?


You are fortunate indeed. Not only is there no inheritance tax in Maine, but there is no federal inheritance tax. Main also does not have an intangible personal property tax.

Upon inheritance, there is no inheritance tax for you to pay.

However, when you liquidate those stocks and bonds, you will be subject to capital gains tax.


Ed Johnson and 2 other Tax Specialists are ready to help you

Related Tax Questions