Inheritance & Estate Tax Calculator
Estimate tax liability for inherited assets. Includes 2024 Federal exemptions and specific rules for US States (PA, NJ, etc.) and beneficiary classes.
About
Transferring wealth after death triggers a complex web of tax liabilities. The "Death Tax" is actually two separate levies: Estate Tax, paid by the estate before distribution, and Inheritance Tax, paid by the beneficiary after receiving the assets. While the US Federal Government only taxes estates exceeding $13.61 million (2024), several states impose their own taxes with much lower thresholds and rates that depend entirely on who you are.
This tool calculates potential liabilities by analyzing the three critical factors: total asset value, jurisdiction (State/Federal rules), and the beneficiary's relationship to the deceased. In many jurisdictions (like Pennsylvania or New Jersey), a brother might pay 12-15% tax while a spouse pays 0%.
Formulas
The calculation follows a tiered bracket system. For Estate Tax:
Inheritance tax is calculated on the distributed amount based on Beneficiary Class (e.g., Class A = Linear family, Class C = Collateral/Non-related).
Reference Data
| Jurisdiction | Tax Type | 2024 Exemption Threshold | Max Rate |
|---|---|---|---|
| US Federal | Estate Tax | $13,610,000 | 40% |
| Connecticut | Estate Tax | $13,610,000 | 12% |
| Hawaii | Estate Tax | $5,490,000 | 20% |
| Illinois | Estate Tax | $4,000,000 | 16% |
| Kentucky | Inheritance Tax | Depends on Class | 16% |
| Massachusetts | Estate Tax | $2,000,000 | 16% |
| New Jersey | Inheritance Tax | $0 (Class C/D) | 16% |
| New York | Estate Tax | $6,940,000 | 16% |
| Oregon | Estate Tax | $1,000,000 | 16% |
| Pennsylvania | Inheritance Tax | $0 | 15% |
| Washington | Estate Tax | $2,193,000 | 20% |