not taking part or giving assistance in a dispute or war between others: a neutral nation during World War II. 2. not aligned with or supporting any side or position in a controversy: The arbitrator was absolutely neutral. 3. of or belonging to a neutral state or party: neutral territory.
Inheritance Tax rates. The rate of Inheritance Tax is 40% on anything above the threshold. The rate may be reduced to 36% if 10% or more of the estate is left to charity.
The effective average rate turns out to be much lower, â less than 17 percent, according to the Tax Policy Center â because of that multimillion-dollar exemption up front. (Fourteen states and the District of Columbia have their own estate taxes, while six others have an inheritance tax, which falls on the beneficiary rather than the estate. Maryland and New Jersey have both, though New Jerseyâs estate tax is scheduled for repeal on Jan. 1.)