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 Bill Your Own Question
Bill
Bill, Enrolled Agent
Category: Tax
Satisfied Customers: 3153
Experience:  EA, CEBS - 35 years experience providing financial advice
6480514
Type Your Tax Question Here...
Bill is online now
A new question is answered every 9 seconds

On an inheritance of a little over 1,000,000, (divided 13

Customer Question

On an inheritance of a little over 1,000,000, (divided 13 ways,) what is the inheritance tax for the state of Ohio? Is there then another iheritance tax to residents of Indiana?
Submitted: 7 years ago.
Category: Tax
Expert:  Bill replied 7 years ago.

If the decedent was a resident of OH and did not have a surviving spouse, then the OH estate tax would be approximately $44,700 on a net taxable estate of $1,000,000.

 

If the decedent was a resident of OH, then there would be no inheritance tax to beneficiaries who reside in IN.

 

http://tax.ohio.gov/divisions/communications/publications/annual_reports/2008_Annual_Report/documents/estate_tax.pdf