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Are non US citizens not residing in the US subject to inheritance

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tax on US securities holdings...
Are non US citizens not residing in the US subject to inheritance tax on US securities holdings even if they are held outside the US?
Submitted: 7 years ago.Category: Tax
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Answered in 8 hours by:
6/1/2010
Tax Professional: RD, Certified Public Accountant (CPA) replied 7 years ago
RD
RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8,784
Experience: CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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Is the deceased person, a resident of US? What State was the decedent a resident of?
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Customer reply replied 7 years ago
The deceased person is not a resident of US nor a US citizen
Tax Professional: RD, Certified Public Accountant (CPA) replied 7 years ago

Yes, the securities holding in US Domestic Corp will be subject to estate tax.

 

 

A non-resident alien is subject to U.S. estate tax on their

taxable estate assets situated in the U.S. (IRC §2101(a), 2106(a)).

For U.S. estate tax, both stock of a U.S. corporation (IRC

§2104) and U.S. real estate (Treas Reg §20.2104-1(a)91)) are

"situated" in the U.S.

 

See link to Sec 2104

http://codes.lp.findlaw.com/uscode/26/B/11/B/2104

 

and IRS link for your reference-

http://www.irs.gov/businesses/small/international/article/0,,id=156329,00.html

 

 

Let me know if you have any question.

 

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.

 

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