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Form 706 California San Bernardino: What You Should Know

Million in federal estate tax¬† The California estate and gift tax laws also have provisions for those who do not have¬† a state tax return. California has two types the ‚Äúnonresidents‚ÄĚ or¬† Nonresident Estate Tax. The first part of the description below applies to¬† Tax-Exempt and Non-Exempt Estate. The second part has to do with nonresidents who¬† do not meet one of the two other qualifications to be tax-exempt or non-exempt. Non-exempt Estate (IRS Form 706) In this case spouse is deemed to be tax-exempt and he/she cannot be taxed (i) any federal income tax; (ii) California Estate tax; or (iii) California tax on any estate or inheritance. These persons do not have to pay any federal estate tax or California tax on an additional amount on his/her estate if they pay it to the state tax office. A filing is not necessary for this scenario. Non-exempt Estate With Certain Qualifying Qualifications In this case spouse is deemed to be tax-exempt and he/she cannot be taxed (i) any federal income tax, (ii) California Estate tax, or (iii) California tax (on the addition of a non-exempt amount) on an Additional amount and if he/she pays it to the state tax office. This filing is required to be filed with the state controller's office. Non-exempt Estate With Qualifying Qualifications In this case spouse is deemed to be tax-exempt and he/she cannot be taxed (i) any federal income tax, (ii) California Estate tax, or (iii) California tax on an Additional amount If the nonresident person who is not a resident, he/she¬† must meet both of the other qualifications, regardless of filing requirements. California tax returns can be¬† filed for up to two years prior to the date of death, but only for residents. For non-residents, there¬† is a 250 filing fee per return, regardless of the number of returns filed. A tax liability must¬† be reported to the state. (Nonresident Estate Tax & Mayor Report Forms) Example: A single mom's son is planning to leave for college.

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