Are Life Insurance Proceeds Taxable In New Hampshire?
.JPG)
63333 POINTSview profilePeggy MaceMost of the U.S.Life insurance proceeds are generally not taxable in New Hampshire unless they are left to the estate. If the beneficiary is the estate, or the death benefit goes to the estate because no beneficiaries are alive, the proceeds will be charged taxes and fees along with all the property in the estate. Federal estate taxes do apply to life insurance proceeds if over the exempted amount of $5,250,000 (in 2013). There are no state inheritance or estate taxes in New Hampshire.Answered on September 20, 2013flag this answer
5877 POINTSview profileStan Cox IIInsurance Adviser - Broker, SC Insurance Services, Oahu, HawaiiIf what you mean by "proceeds" is the death benefit when paid, then in all states when the death benefit is paid to a beneficiary that is a person and not an estate, no it is not taxable. However if the benefit/ proceeds are paid to an estate that is valued at over $5.4 million, it most likely will be taxable.Answered on August 5, 2015flag this answer
Did you find these answers helpful?
Yes
No
Go!
Add Your Answer To This Question
You must be logged in to add your answer.
