Fortunately, Florida is one of the thirty-eight states that does not have an estate tax, though a person may still be subject to the federal estate tax, which is often to referred to as the “federal death tax.”
Beginning January 1, 2018, the estate and gift tax exemption is $5,600,000 per individual and $11,200,000 per married couple.
Meaning an individual or couple’s estate will have to exceed these figured in order for the federal death tax to come into effect. For people with less than this threshold amount, you will not have to pay this tax.
More Resources For Federal Estate Taxes
The IRS has provided a great resource for frequently asked questions on estate taxes. The US estate tax return form that is filled out when one leaves assets upon their death is IRS form 706. This form must be filed within nine months after the date of death (a six month extension maybe be requested).
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