Inheritance tax is a tax that is imposed on the transfer of assets from a deceased person to their beneficiaries. The tax is based on the value of the assets being transferred and is paid by the recipients of the inheritance.

No, inheritance tax rates and thresholds vary from state to state in the United States. Each state has its own laws and regulations governing inheritance tax, so it is important to be aware of the specific rules in your state.

Here is a state-by-state comparison of inheritance tax rates and thresholds in the United States:

• California: No inheritance tax
• New York: Inheritance tax rates range from 5% to 16% with a $5.74 million exemption
• Florida: No inheritance tax
• Pennsylvania: Inheritance tax rates range from 4.5% to 15% with no exemption
• Texas: No inheritance tax
• Ohio: Inheritance tax rates range from 6% to 7% with a $500,000 exemption

There are several strategies that can be used to minimize inheritance tax, such as gifting assets during your lifetime, setting up trusts, and making use of the annual gift tax exclusion. It is recommended to consult with a financial advisor or estate planning attorney to discuss the best options for your specific situation.