Title: (Optional) Explain the similarities and differences between state and federal taxation of inheritances.
Course: Personal Finance (19262-II) > Section: Demonstrating Knowledge of Taxes

Explanation should

- distinguish between an inheritance tax and an estate tax
- differentiate between current state and federal taxes (e.g., estate taxes, inheritance taxes, death taxes, gift taxes, federal and state income taxes) and any deductions and exemptions that apply to such taxes.