Q: My brother died and as part of his estate i received $120,00.00 do i have to pay inherant taxes in NC.
Your brother's estate will not owe any NC Inheritance Taxes if your brother passed away during or after 2013. North Carolina repealed its estate/inheritance tax, effective January 1, 2013.
You probably will not have to pay federal estate tax either. Currently, the federal estate tax exemption is set at $5.43 million per individual. Thus, there is no estate tax liability for any estate under $5.43 million.
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