Overview
Florida does not have an inheritance tax or a state estate tax. The state does not tax a person's estate (what they own at death), and heirs generally owe Florida nothing just for inheriting.
Does Florida have an inheritance tax or estate tax?
No, but other taxes can still apply:
- Federal estate tax can apply to very large estates, above an amount set by federal law.
- Other states may tax real estate and certain other property located there.
- Income an inherited asset earns after the death, such as interest or rent, is generally subject to income tax.
- Withdrawals from an inherited traditional IRA or 401(k) are usually taxed as income.
Why this matters
Most Florida families will not owe estate or inheritance tax. Still, a large estate, out-of-state property or inherited retirement accounts can create tax bills. An estate plan can help your family prepare.
Questions about your Florida estate plan? Call Karia Law at (954) 281-9989 or send a contact request at karialaw.com/contact.
Disclaimer: This is an advertisement. This article is for general informational purposes only and does not constitute legal advice. It does not create an attorney-client relationship. Laws vary and individual circumstances differ. Consult a licensed Florida estate planning attorney for advice specific to your situation. Tejus Karia, Esq. is a member of The Florida Bar.