Asked by h
Who is responsible for paying the inheritance tax?
the government
the deceased person's estate
the person who executed the will
the beneficiaries of the inheritance
All Answers 1
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The beneficiaries of the inheritance.
Explanation: an inheritance tax (as opposed to an estate tax) is levied on the recipients of the assets and is generally paid by the beneficiaries who receive the inheritance. (By contrast, an estate tax is paid out of the deceased person’s estate before distributions.) Rules vary by jurisdiction, so local law may change who ultimately pays.
Explanation: an inheritance tax (as opposed to an estate tax) is levied on the recipients of the assets and is generally paid by the beneficiaries who receive the inheritance. (By contrast, an estate tax is paid out of the deceased person’s estate before distributions.) Rules vary by jurisdiction, so local law may change who ultimately pays.
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