Estate Tax: This tax is levied on the estate of a deceased person when the taxable assets exceed a predefined threshold (e.g., $1 million in Massachusetts).​​
Inheritance Tax: In contrast, inheritance tax is paid by a beneficiary on the value of the inherited assets.
Massachusetts imposes an estate tax but does not have an inheritance tax.​​
Estate tax is triggered when the deceased person's assets surpass the state's threshold, affecting the estate itself.
Learn more about inheritance tax and estate tax by visiting us at Inheritance tax.