Category Archives: State Gift Tax

New Hampshire Gift Tax

What is Gift Tax New Hampshire?

Gift Tax, sometimes confused with Inheritance / Estate Tax, is a tax on the transfer of cash/asset/property by one person to another while receiving nothing in return.  The tax applies whether the donor intends the transfer to be a gift or not.  The Gift Tax and Estate Tax are interrelated.  The IRS allows you to give up to $14,000 per year to any number of people without incurring any gift taxes.

If the gift exceeds $14,000 in a given year, the person who makes the gift, not the recipient, has to file a gift tax return and pay any tax owed.  The giver has to file the tax form 709.  However, there is $5,430,000 lifetime exemption before you have to pay gift.

The Gift tax is very correlated with the estate tax.  Any gift that exceeds the annual exemption of $14,000 reduces your estate tax lifetime exemption of $5,430,000.  For example, you give your son $114,000 in 2015.   $14,000 is exempted while you have to file a gift tax return and report that you used $100,000 of your $5,430,000 lifetime exemption.

How much is New Hampshire Gift Tax?

There are NO New Hampshire Gift Tax.  All Gift Tax are exempt in the State of New Hampshire.

If the total Estate asset (property, cash, etc.) is over $5,430,000, it is subject to the Federal Estate Tax (Form 706).

How to file New Hampshire Gift Tax?

Since there are no New Hampshire Gift Tax, you do not need to file any tax forms.

Get more information on New Hampshire Gift Tax:

You can call IRS directly at 800-829-1040 or call the New Hampshire Department of Revenue regarding gift and estate tax.

Maine Gift Tax

What is Gift Tax Maine?

Gift Tax, sometimes confused with Inheritance / Estate Tax, is a tax on the transfer of cash/asset/property by one person to another while receiving nothing in return.  The tax applies whether the donor intends the transfer to be a gift or not.  The Gift Tax and Estate Tax are interrelated.  The IRS allows you to give up to $14,000 per year to any number of people without incurring any gift taxes.

If the gift exceeds $14,000 in a given year, the person who makes the gift, not the recipient, has to file a gift tax return and pay any tax owed.  The giver has to file the tax form 709.  However, there is $5,430,000 lifetime exemption before you have to pay gift.

The Gift tax is very correlated with the estate tax.  Any gift that exceeds the annual exemption of $14,000 reduces your estate tax lifetime exemption of $5,430,000.  For example, you give your son $114,000 in 2015.   $14,000 is exempted while you have to file a gift tax return and report that you used $100,000 of your $5,430,000 lifetime exemption.

How much is Maine Gift Tax?

There are NO Maine Gift Tax.  All Gift Tax are exempt in the State of Maine.

If the total Estate asset (property, cash, etc.) is over $5,430,000, it is subject to the Federal Estate Tax (Form 706).

How to file Maine Gift Tax?

Since there are no Maine Gift Tax, you do not need to file any tax forms.

Get more information on Maine Gift Tax:

You can call IRS directly at 800-829-1040 or call the Maine Department of Revenue regarding gift and estate tax.

Hawaii Gift Tax

What is Gift Tax Hawaii?

Gift Tax, sometimes confused with Inheritance / Estate Tax, is a tax on the transfer of cash/asset/property by one person to another while receiving nothing in return.  The tax applies whether the donor intends the transfer to be a gift or not.  The Gift Tax and Estate Tax are interrelated.  The IRS allows you to give up to $14,000 per year to any number of people without incurring any gift taxes.

If the gift exceeds $14,000 in a given year, the person who makes the gift, not the recipient, has to file a gift tax return and pay any tax owed.  The giver has to file the tax form 709.  However, there is $5,430,000 lifetime exemption before you have to pay gift.

The Gift tax is very correlated with the estate tax.  Any gift that exceeds the annual exemption of $14,000 reduces your estate tax lifetime exemption of $5,430,000.  For example, you give your son $114,000 in 2015.   $14,000 is exempted while you have to file a gift tax return and report that you used $100,000 of your $5,430,000 lifetime exemption.

How much is Hawaii Gift Tax?

There are NO Hawaii Gift Tax.  All Gift Tax are exempt in the State of Hawaii.

If the total Estate asset (property, cash, etc.) is over $5,430,000, it is subject to the Federal Estate Tax (Form 706).

How to file Hawaii Gift Tax?

Since there are no Hawaii Gift Tax, you do not need to file any tax forms.

Get more information on Hawaii Gift Tax:

You can call IRS directly at 800-829-1040 or call the Hawaii Department of Revenue regarding gift and estate tax.

Idaho Gift Tax

What is Gift Tax Idaho?

Gift Tax, sometimes confused with Inheritance / Estate Tax, is a tax on the transfer of cash/asset/property by one person to another while receiving nothing in return.  The tax applies whether the donor intends the transfer to be a gift or not.  The Gift Tax and Estate Tax are interrelated.  The IRS allows you to give up to $14,000 per year to any number of people without incurring any gift taxes.

If the gift exceeds $14,000 in a given year, the person who makes the gift, not the recipient, has to file a gift tax return and pay any tax owed.  The giver has to file the tax form 709.  However, there is $5,430,000 lifetime exemption before you have to pay gift.

The Gift tax is very correlated with the estate tax.  Any gift that exceeds the annual exemption of $14,000 reduces your estate tax lifetime exemption of $5,430,000.  For example, you give your son $114,000 in 2015.   $14,000 is exempted while you have to file a gift tax return and report that you used $100,000 of your $5,430,000 lifetime exemption.

How much is Idaho Gift Tax?

There are NO Idaho Gift Tax.  All Gift Tax are exempt in the State of Idaho.

If the total Estate asset (property, cash, etc.) is over $5,430,000, it is subject to the Federal Estate Tax (Form 706).

How to file Idaho Gift Tax?

Since there are no Idaho Gift Tax, you do not need to file any tax forms.

Get more information on Idaho Gift Tax:

You can call IRS directly at 800-829-1040 or call the Idaho Department of Revenue regarding gift and estate tax.

West Virginia Gift Tax

What is Gift Tax West Virginia?

Gift Tax, sometimes confused with Inheritance / Estate Tax, is a tax on the transfer of cash/asset/property by one person to another while receiving nothing in return.  The tax applies whether the donor intends the transfer to be a gift or not.  The Gift Tax and Estate Tax are interrelated.  The IRS allows you to give up to $14,000 per year to any number of people without incurring any gift taxes.

If the gift exceeds $14,000 in a given year, the person who makes the gift, not the recipient, has to file a gift tax return and pay any tax owed.  The giver has to file the tax form 709.  However, there is $5,430,000 lifetime exemption before you have to pay gift.

The Gift tax is very correlated with the estate tax.  Any gift that exceeds the annual exemption of $14,000 reduces your estate tax lifetime exemption of $5,430,000.  For example, you give your son $114,000 in 2015.   $14,000 is exempted while you have to file a gift tax return and report that you used $100,000 of your $5,430,000 lifetime exemption.

How much is West Virginia Gift Tax?

There are NO West Virginia Gift Tax.  All Gift Tax are exempt in the State of West Virginia.

If the total Estate asset (property, cash, etc.) is over $5,430,000, it is subject to the Federal Estate Tax (Form 706).

How to file West Virginia Gift Tax?

Since there are no West Virginia Gift Tax, you do not need to file any tax forms.

Get more information on West Virginia Gift Tax:

You can call IRS directly at 800-829-1040 or call the West Virginia Department of Revenue regarding gift and estate tax.

Nebraska Gift Tax

What is Gift Tax Nebraska?

Gift Tax, sometimes confused with Inheritance / Estate Tax, is a tax on the transfer of cash/asset/property by one person to another while receiving nothing in return.  The tax applies whether the donor intends the transfer to be a gift or not.  The Gift Tax and Estate Tax are interrelated.  The IRS allows you to give up to $14,000 per year to any number of people without incurring any gift taxes.

If the gift exceeds $14,000 in a given year, the person who makes the gift, not the recipient, has to file a gift tax return and pay any tax owed.  The giver has to file the tax form 709.  However, there is $5,430,000 lifetime exemption before you have to pay gift.

The Gift tax is very correlated with the estate tax.  Any gift that exceeds the annual exemption of $14,000 reduces your estate tax lifetime exemption of $5,430,000.  For example, you give your son $114,000 in 2015.   $14,000 is exempted while you have to file a gift tax return and report that you used $100,000 of your $5,430,000 lifetime exemption.

How much is Nebraska Gift Tax?

There are NO Nebraska Gift Tax.  All Gift Tax are exempt in the State of Nebraska.

If the total Estate asset (property, cash, etc.) is over $5,430,000, it is subject to the Federal Estate Tax (Form 706).

How to file Nebraska Gift Tax?

Since there are no Nebraska Gift Tax, you do not need to file any tax forms.

Get more information on Nebraska Gift Tax:

You can call IRS directly at 800-829-1040 or call the Nebraska Department of Revenue regarding gift and estate tax.

New Mexico Gift Tax

What is Gift Tax New Mexico?

Gift Tax, sometimes confused with Inheritance / Estate Tax, is a tax on the transfer of cash/asset/property by one person to another while receiving nothing in return.  The tax applies whether the donor intends the transfer to be a gift or not.  The Gift Tax and Estate Tax are interrelated.  The IRS allows you to give up to $14,000 per year to any number of people without incurring any gift taxes.

If the gift exceeds $14,000 in a given year, the person who makes the gift, not the recipient, has to file a gift tax return and pay any tax owed.  The giver has to file the tax form 709.  However, there is $5,430,000 lifetime exemption before you have to pay gift.

The Gift tax is very correlated with the estate tax.  Any gift that exceeds the annual exemption of $14,000 reduces your estate tax lifetime exemption of $5,430,000.  For example, you give your son $114,000 in 2015.   $14,000 is exempted while you have to file a gift tax return and report that you used $100,000 of your $5,430,000 lifetime exemption.

How much is New Mexico Gift Tax?

There are NO New Mexico Gift Tax.  All Gift Tax are exempt in the State of New Mexico.

If the total Estate asset (property, cash, etc.) is over $5,430,000, it is subject to the Federal Estate Tax (Form 706).

How to file New Mexico Gift Tax?

Since there are no New Mexico Gift Tax, you do not need to file any tax forms.

Get more information on New Mexico Gift Tax:

You can call IRS directly at 800-829-1040 or call the New Mexico Department of Revenue regarding gift and estate tax.

Nevada Gift Tax

What is Gift Tax Nevada?

Gift Tax, sometimes confused with Inheritance / Estate Tax, is a tax on the transfer of cash/asset/property by one person to another while receiving nothing in return.  The tax applies whether the donor intends the transfer to be a gift or not.  The Gift Tax and Estate Tax are interrelated.  The IRS allows you to give up to $14,000 per year to any number of people without incurring any gift taxes.

If the gift exceeds $14,000 in a given year, the person who makes the gift, not the recipient, has to file a gift tax return and pay any tax owed.  The giver has to file the tax form 709.  However, there is $5,430,000 lifetime exemption before you have to pay gift.

The Gift tax is very correlated with the estate tax.  Any gift that exceeds the annual exemption of $14,000 reduces your estate tax lifetime exemption of $5,430,000.  For example, you give your son $114,000 in 2015.   $14,000 is exempted while you have to file a gift tax return and report that you used $100,000 of your $5,430,000 lifetime exemption.

How much is Nevada Gift Tax?

There are NO Nevada Gift Tax.  All Gift Tax are exempt in the State of Nevada.

If the total Estate asset (property, cash, etc.) is over $5,430,000, it is subject to the Federal Estate Tax (Form 706).

How to file Nevada Gift Tax?

Since there are no Nevada Gift Tax, you do not need to file any tax forms.

Get more information on Nevada Gift Tax:

You can call IRS directly at 800-829-1040 or call the Nevada Department of Revenue regarding gift and estate tax.

Kansas Gift Tax

What is Gift Tax Kansas?

Gift Tax, sometimes confused with Inheritance / Estate Tax, is a tax on the transfer of cash/asset/property by one person to another while receiving nothing in return.  The tax applies whether the donor intends the transfer to be a gift or not.  The Gift Tax and Estate Tax are interrelated.  The IRS allows you to give up to $14,000 per year to any number of people without incurring any gift taxes.

If the gift exceeds $14,000 in a given year, the person who makes the gift, not the recipient, has to file a gift tax return and pay any tax owed.  The giver has to file the tax form 709.  However, there is $5,430,000 lifetime exemption before you have to pay gift.

The Gift tax is very correlated with the estate tax.  Any gift that exceeds the annual exemption of $14,000 reduces your estate tax lifetime exemption of $5,430,000.  For example, you give your son $114,000 in 2015.   $14,000 is exempted while you have to file a gift tax return and report that you used $100,000 of your $5,430,000 lifetime exemption.

How much is Kansas Gift Tax?

There are NO Kansas Gift Tax.  All Gift Tax are exempt in the State of Kansas.

If the total Estate asset (property, cash, etc.) is over $5,430,000, it is subject to the Federal Estate Tax (Form 706).

How to file Kansas Gift Tax?

Since there are no Kansas Gift Tax, you do not need to file any tax forms.

Get more information on Kansas Gift Tax:

You can call IRS directly at 800-829-1040 or call the Kansas Department of Revenue regarding gift and estate tax.

Utah Gift Tax

What is Gift Tax Utah?

Gift Tax, sometimes confused with Inheritance / Estate Tax, is a tax on the transfer of cash/asset/property by one person to another while receiving nothing in return.  The tax applies whether the donor intends the transfer to be a gift or not.  The Gift Tax and Estate Tax are interrelated.  The IRS allows you to give up to $14,000 per year to any number of people without incurring any gift taxes.

If the gift exceeds $14,000 in a given year, the person who makes the gift, not the recipient, has to file a gift tax return and pay any tax owed.  The giver has to file the tax form 709.  However, there is $5,430,000 lifetime exemption before you have to pay gift.

The Gift tax is very correlated with the estate tax.  Any gift that exceeds the annual exemption of $14,000 reduces your estate tax lifetime exemption of $5,430,000.  For example, you give your son $114,000 in 2015.   $14,000 is exempted while you have to file a gift tax return and report that you used $100,000 of your $5,430,000 lifetime exemption.

How much is Utah Gift Tax?

There are NO Utah Gift Tax.  All Gift Tax are exempt in the State of Utah.

If the total Estate asset (property, cash, etc.) is over $5,430,000, it is subject to the Federal Estate Tax (Form 706).

How to file Utah Gift Tax?

Since there are no Utah Gift Tax, you do not need to file any tax forms.

Get more information on Utah Gift Tax:

You can call IRS directly at 800-829-1040 or call the Utah Department of Revenue regarding gift and estate tax.