Is there a limit to the amount of inheritance tax owed on an intestate estate?

In California, there is a limit to the amount of inheritance tax that can be owed on an intestate estate. Specifically, the maximum inheritance tax rate is 16%. This rate applies to any estates whose value exceeds $2 million. For estates valued at or below $2 million, the inheritance tax rate decreases to 6%. This is true for any estate worth up to a million dollars. In addition, California does not collect estate taxes. This means that the maximum tax rate is only applied to those who have a taxable estate. In other words, those who are not subject to state estate taxes do not have to pay any additional taxes on the value of their estate. In sum, if the value of an intestate estate is $2 million or less, the maximum inheritance tax rate is 6%. However, if the estate exceeds $2 million, the maximum inheritance tax rate is 16%. Additionally, those who are not subject to state estate taxes do not need to pay any additional taxes on the value of their estate.

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Is there a limit to the amount of inheritance tax owed on an intestate estate?

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