Mesa Arizona Form 706-NA 2019-2025

Mesa Arizona Form 706-NA: What You Should Know

Why does this tax not tax the nonresident alien Estate Tax Planning in Arizona “ Under federal law, the estate tax (Form 770 in the United States) is a tax on the transfer of property from one nonresident alien to another? Under federal estate tax law, foreign elders and other persons who control an inheritance are not taxed by the United States unless the property is a gift or bequest to a U.S. citizen.” Source Arizona Estate Tax “In Arizona, U.S. citizens have a preference to claim a transfer credit against the federal estate tax for taxable gifts and other bequests by non-citizens. For married individuals, the U.S. citizen spouse (including the surviving spouse if the decedent was married) must qualify to claim the credit. In addition, a surviving individual who was under a U.S. citizenship test before his or her death may claim the credit when the individual who is surviving testifies that the individual is not a permanent resident. The amount of the credit varies by marital status and filing status. See the “Filing Form 706-NA” table in Publication 551, U.S. Tax Guide for Aliens. This is a federal tax not a state tax.” — Investopedia Estate and Generation-Skipping Transfer Tax (GST) and U.S. Estate Tax The estate tax is a federal tax imposed on estates worth over 5.49 million for single individuals and 11,050,000 for married couples. A non-resident alien decedent cannot claim a federal tax exemption for the estate tax on his or her U.S. estate. See the “Estate Tax Planning in Arizona” for more information and examples. How to Calculate Arizona Estate and Generation-Skipping Transfer (GST) Tax A tax return must include the following information: The decedent's name and taxpayer identification number; The decedent's net worth; The decedent's basis in real estate; The amount of gross income the decedent had (for example, wages, salaries and dividends); The amount of business income, if any; The name and address of any other person who had a controlling interest or the estate interest at the time of death.

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