The Tax Resources Blog

Posts Tagged ‘estate’

Inheritance Tax Virginia

Question: What are the inheritance tax rates in Virginia and Washington DC? Linear vs. non-linear tax rates?

Answer: In both Virginia and Washington DC you are subject to Federal tax, which currently starts at 46% when your estate goes over $2 million. It’s essentially a flat rate above that level. I don’t believe that Washington DC currently has its own tax. Virginia has a strange system. You can see the return below, which gives their stated rates, but you don’t really pay any tax to them unless your estate exceeds $2 million.

Estate Planning Attorney Shows how to protect your kids inheritance from creditors