Amherst, NH Resident Seeks Advice
An inheritance can be taxed through an inheritance tax and an estate tax. The estate tax will come directly out of the estate before it is divided and distributed, leaving recipients only responsible for the inheritance tax. There is no federal inheritance tax and only some states, New Hampshire not being one of them, collect an inheritance tax. In most cases, taxes will already be taken out of the estate before it is given to the benefactors.