Category Archives: Estates
Is there a discount allowed on the Pennsylvania Inheritance Tax?
To avoid interest and penalties, the Pennsylvania Inheritance Tax must be paid within 9 months of the date of death. As executor, you are responsible to make the payment. If you delay and interest or penalties are created, the beneficiaries may demand that you be held responsible. To encourage you to make the payment early, […]
Is there a limit on the PA Inheritance Tax?
Each Pennsylvania estate is subject to two potential estate related taxes; the Pennsylvania Inheritance Tax and the FederalEstate Tax. When you mention a “limit”, you are speaking about the Federal Estate Tax, not the Pennsylvania Inheritance Tax. The Federal Estate Tax exempts the first $5,000,000.00 (adjusted for inflation) of each estate from taxation. This means […]
