Many folks are not familiar with how estate tax works and whether they would have to pay inheritance taxes. Take my quiz to see how much you know.
True or False: Estate or Inheritance Tax in Florida is higher than the national average. False.Thankfully, there is no state inheritance tax in Florida.
True or False: If you inherit money in Florida, you must pay income tax on the money received. False, Beneficiaries in Florida do not pay income tax on money received from an estate because inherited property does not count as income.
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