Inheritance Tax In 2024. Work out an estate value when legacies in a will are free of tax and other assets are tax exempt. There’s normally no inheritance tax to pay if either:
There’s no federal inheritance tax and only six states collect an inheritance tax in 2023 and 2024, so it only affects you if the decedent (deceased person) lived or owned. The exemption for the federal estate tax is $13.61.