31st March 2008

Ohio has no inheritance tax!

posted in education, finance, financial planning, investment planning, retirement and estate planning |

So I got a few answers in my educational quest on estate taxes. I talked to an accountant that said if the deceased had paid taxes all ready, than I have nothing to worry about unless it’s property that needs to be sold.

Of course, I used my google-fu to supplement this answer and the always informative bankrate.com has the answer:

*Ohio has no inheritance tax.

*Because federal tax law totally repealed the federal credit allowed for state death taxes for dates of death occurring on or after Jan. 1, 2005, the Ohio Additional Tax on estates is constructively repealed. This change is prospective and applies to decedents’ dates of death occurring on or after July 1, 2005.

So now, once the cash is “in hand” I need to constructively figure out how I’m going to leverage it towards investing it - and doubling it!

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  1. 1 On March 31st, 2008, » Ohio has no inheritance tax! said:

    [...] [Technorati] Tag results for taxes wrote an interesting post today onHere’s a quick excerptSo I got a few answers in my educational quest on estate taxes. I talked to an accountant that said if the deceased had paid taxes all ready, than I have nothing to worry about unless it’s property that needs to be sold. Of course, I used my google-fu to supplement this answer and the always […] [...]

  2. 2 On March 31st, 2008, » Ohio has no inheritance tax! said:

    [...] utilitybusinesssolutions.com wrote an interesting post today onHere’s a quick excerptSo I got a few answers in my educational quest on estate taxes. I talked to an accountant that said if the deceased had paid taxes all ready, than I have nothing to worry about unless it’s property that needs to be sold. Of course, I used my google-fu to supplement this answer and the always […] [...]

  3. 3 On April 1st, 2008, Financial Planning on The Finance World For News and Information Around The World On Finance » Blog Archive » Ohio has no inheritance tax! said:

    [...] Ohio has no inheritance tax! So I got a few answers in my educational quest on estate taxes. I talked to an accountant that said if the deceased had paid taxes all ready, than I have nothing to worry about unless it’s property that needs to be sold. Of course, I used my google-fu to supplement this answer and the always […] [...]

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