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.
If the beneficiaries of the estate are a parent, child, sibling, or grandchild or other close relation no inheritance tax is due. Nieces, nephews, aunts and other specific relations receive a $1,000 exemption and pay tax rates of 4 to 16 percent on their inheritance.