An estate tax paid to states by people who receive an inheritance subject to federal taxation. A pick-up tax is only paid when an estate exceeds the federal exemption amount because it is based upon the federal liability. This is used by some states which do not have detailed estate tax structures written into their tax codes.
Related information about pick-up tax:
- State Estate Taxes - What is the Pick Up Tax?
Prior to January 1, 2005, some states collected a separate state estate tax, called a.
- Pick-Up Tax Definition | Investopedia
A tax imposed by state authorities based on the estate tax credit the U.S. federal government allows on the federal estate tax return. As this tax is imposed at the ...
- Estate Tax Changes
This is true regardless of whether the state relies on the pick-up tax as its only death tax or as a supplemental tax (in which case the entire tax will phase-out) or ...
- Pick-Up Tax: Definition from Answers.com
Pick-Up Tax A tax imposed by state authorities based on the estate tax credit the U.S. federal government allows on the federal estate tax return.
- State Taxes on Inherited Wealth Remain Common: — Center on ...
Jan 4, 2012 ... In addition, two states — Maryland and New Jersey — levy both an estate tax that is similar to the pre-2001 pick-up tax and a separate ...
- Do You Need a Tax Booklet? | California Franchise Tax Board
Pick up a tax booklet. Find a site near you to pick up tax booklets. Order a tax booklet. Use our automated phone service. Submit an online request. Get a tax ...
- Utah State Tax Commission - Other Taxes - Other Taxes
Sep 5, 2012 ... Utah's estate tax system is commonly referred to as a "pick up" tax. This is because Utah picks up all or a portion of, the credit for state death ...
- What is pick-up tax? definition and meaning
Definition of pick-up tax: An estate tax paid to states by people who receive an ... A pick-up tax is only paid when an estate exceeds the federal exemption ...