In the United States, a state government collects an inheritance tax, while the federal government collects an estate tax. Whenever an individual is named in a legal will as the recipient of assets from an estate, he or she may be liable for an inheritance tax to the state. However, the specific laws a very unusual, as they've been endlessly amended over the years. For example, The value of the property or other asset must exceed $1.5 million in order to even qualify for inheritance tax. This eliminates most inherited property immediately from having to be taxed.