Buford, GA asked in Tax Law for North Carolina

Q: My brother died and as part of his estate i received $120,00.00 do i have to pay inherant taxes in NC.

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1 Lawyer Answer
Catherine E Bruce
Catherine E Bruce
  • Chapel Hill, NC

A: 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 North Carolina repealed its estate/inheritance tax, effective January 1, 2013.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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