Search results
People also ask
What assets are exempt from Pennsylvania inheritance tax?
What is inheritance tax in Pennsylvania?
How does inheritance work in Pennsylvania?
Are farm land and agricultural property exempt from Pennsylvania inheritance tax?
The rates for Pennsylvania inheritance tax are as follows: 0 percent on transfers to a surviving spouse or to a parent from a child aged 21 or younger; 4.5 percent on transfers to direct descendants and lineal heirs;
- Forms and Publications
REV-571 -- Schedule C-SB - Qualified Family-Owned Business...
- Letter Rulings
Inheritance Tax Letter Rulings. INH-10-003 -- Irrevocable...
- Tax Bulletins
Inheritance Tax Bulletin 2015-01 -- Department of Revenue...
- Search
Report Tax Fraud; Customer Feedback Survey; Tax Types. Tax...
- Forms and Publications
Dec 21, 2023 · The rates for the inheritance tax range from 4.5% to 15%, depending on the exact situation. What you’ll have to pay and when is listed below: Pennsylvania Inheritance Tax. Other Necessary Tax Filings. The Pennsylvania inheritance tax isn’t the only applicable tax for the estates of decedents.
Unlike most other states, the Pennsylvania Inheritance Tax rates are not the same for every beneficiary. The rate that you will pay depends upon your relationship to the person who died. 0% Tax Rate: Surviving spouses, charities and transfers to the government are exempt from the Pennsylvania Inheritance Tax.
TAX RATES The rates for Pennsylvania inheritance tax as of July 1, 2000 are as follows: • 0 percent on transfers to a surviving spouse or to a parent from a child aged 21 or younger*; • 4.5 percent on transfers to direct descendants and lineal heirs; • 12 percent on transfers to siblings; and
- 76KB
- 2
- Pennsylvania Inheritance Tax Rates
- Filing The Pennsylvania Inheritance Tax Return
- Special Exemptions For Farms and Businesses
Every person or organization that inherits property is put into a category for Pennsylvania inheritance tax purposes. This classification determines the tax rate that is applied to the inherited property.
The Pennsylvania Inheritance Tax Return (Form Rev-1500) can be filled out online. (It must be printed out and signed, however, before it's filed.) The executor (if there's a will) or personal representative(if there's no will) is responsible for filing the return. Just one return is necessary, even if several people owe tax. The return is filed wit...
The Pennsylvania legislature has carved out inheritance tax exceptions for certain kinds of property. But these kinds of properties still must be reported on a timely filed inheritance tax return. (72 Pa. Stat. § 9111 (2024).) Farmland is exempt from inheritance tax, as long as the land is inherited by family members and continues to be used for ag...
Feb 26, 2003 · The current inheritance tax rates are as follows: * Surviving spouse - 0 percent. * Lineal heirs (children/grandchildren and their spouses,etc.) - 4.5 percent. * Siblings (brother/sister) - 12 percent. * Collateral heirs (nephew/niece, aunt/uncle, friends, etc.) - 15percent.
