Key highlights: Renewable energy is experiencing a surge in popularity — electric vehicle sales are at an all-time high, and residential and commercial solar projects are going up in virtually every community in the country. This is unsurprising; since 2022, the U.S. government has significantly ramped up incentives for green […]
An inheritance tax is a tax on a beneficiary’s receipt of assets from a deceased person. This article explores how inheritance taxes work generally.
An inheritance tax is a tax on a beneficiary’s receipt of assets from a deceased person. The beneficiary pays the tax as a percentage of the assets inherited. Rates generally vary based on the relationship between the estate owner and the beneficiary.
When a person dies, their assets are distributed according to the terms of their will or revocable trust, or if they did not have a will or revocable trust, according to the state’s laws. Depending on the value of the assets and the beneficiary’s relationship to the deceased, these gifts may be subject to inheritance tax.
There is no federal inheritance tax, but some states have their own inheritance taxes. However, even in states with an inheritance tax, spouses and, in most cases, children are exempt. Often, specific types of assets are exempt from inheritance tax as well.
The five states that impose an inheritance tax are:
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Since Nevada is not a state that imposes an inheritance tax, the inheritance tax in 2025 is 0% (zero). As a result, you won’t owe Nevada inheritance taxes.
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