Do I need to pay taxes on inheritance in Virginia?

No, inheritance itself is not subject to income tax in Virginia. However, if you receive income from inherited assets such as interest, dividends, or rental income, that income may be subject to taxation. Virginia does not impose an inheritance tax either, which means there is no tax on the transfer of assets from the deceased person's estate to the beneficiaries. It's important to note that federal estate taxes may still apply if the value of the estate exceeds a certain threshold set by the IRS. If you have specific questions or concerns regarding inheritance taxes in Virginia, it is recommended to consult with a qualified tax professional or the Commonwealth of Virginia Department of Taxation.