An inheritance tax is a tax imposed on a person who inherits property from a deceased person. There is no federal inheritance tax, but some states have an inheritance tax.
In the state of Texas, there is no state-level inheritance tax. This means that individuals who inherit property or assets from a deceased person are not required to pay taxes to the state of Texas simply for inheriting those assets. It's important to note that this is separate from the federal estate tax, which is a tax on the transfer of the estate of a deceased person and may apply if the estate exceeds a certain threshold. However, as of the current regulations, Texas residents and those inheriting property from someone who was a resident of Texas do not have to worry about a state-imposed inheritance tax.
