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Inheritance tax is imposed as a percentage of the value of a decedent's estate transferred to beneficiaries by will, heirs by intestacy and transferees by operation of law. The tax rate varies depending on the relationship of the heir to the decedent. The rates for Pennsylvania inheritance tax are as follows:
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.
Inheritance Tax Forms. REV-229 -- PA Estate Tax General Information. REV-346 -- Estate Information Sheet. REV-485 -- Safe Deposit Box Inventory. REV-487 -- Entry Into Safe Deposit Box to Remove a Will or Cemetery Deed. REV-516 -- Notice of Transfer (For Stocks, Bonds, Securities or Security Accounts Held in Beneficiary Form)
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.
Pennsylvania Department of Revenue > Online Services > myPATH Information > Individuals > Inheritance Tax. myPATH for Inheritance Tax. myPATH features available to Registers of Wills include: Changing county banking information online. Electronically submitting receipts. Submitting Estate Information Sheets. Submitting Decedent Records.
Feb 14, 2003 · What are the filing requirements for inheritance tax? A REV-1500 Inheritance Tax Return - Resident Decedent must be filed if the Will has been probated, or if Letters of Administration have been issued for the estate. If taxable assets exist in the decedent's name alone, a return must be filed.
Pennsylvania is one of a handful of states that collects an inheritance tax. If you're a Pennsylvania resident, or if you own real estate or tangible property located in Pennsylvania, the people who inherit your property might have to pay a tax on the amount that they inherit.
