Quote:
Originally Posted by tis
Sad that if you live in Mass. you have to pay an estate tax on property in NH. Because their is no estate tax (state) in NH if it is passed on to children. If it is passed on to others NH does have an estate tax.
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I don't believe NH has an inheritance tax however I do believe that in the case of ownership change even within the same family it may be subject to the NH real-estate transfer tax unless there is some way to skirt that. Can you add an additional owner on the fly at any time and not trigger this?
Mass doesn't distinguish if assets of the "estate" are within the borders on MA or not. My guess is if you are a resident it doesn't matter. They have no problem assessing income tax on income not earned in MA so why would and inheritance be looked at any different?