Are Life Insurance Payouts Taxable In Florida?

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    Peggy Mace
    Most of the U.S.
    Life insurance payouts are not taxable in Florida or any other state, in regard to income tax. If the life insurance is left to a beneficiary who is a person, as opposed to leaving it to the estate, then that person will not have to pay income taxes on the life insurance payout.
    Answered on July 21, 2013
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