Iowa

A solution in search of a problem ....

A decedent’s “net estate” must be worth more than $25,000 before the inheritance tax is applicable. Those exempt from the Iowa inheritance tax include:



The decedent’s surviving spouse;
The decedent’s parents, grandparents, and some other lineal ancestors;
The decedent’s children (biological or adopted), stepchildren and grandchildren;
Certain charitable organizations;
Humane societies, public libraries, hospitals, certain municipal corporations; and
Religious reasons for up to $500


So, if you give it to your mistress, friends, etc. it can be taxed. Give it to your spouse or kids , there is already no tax.

I am ashamed that a Dem from my suburb is behind accelerating this.