The Pennsylvania Department of Revenue provides answers regarding Pennsylvania inheritance tax on its website. Pennsylvania taxpayers can also receive answers to questions about inheritance tax over the phone by calling 717-787-8327, according to the Department of Reven...
An inheritance tax is a tax paid by heirs or beneficiaries of an inheritance, according to Investopedia. An inheritance tax rate depends on the value of the asset received or the relationship to the descendant.
Six states have state inheritance taxes as of 2015. Iowa, Kentucky, Nebraska and Pennsylvania have inheritance taxes only, while Maryland and New Jersey have both estate taxes and inheritance taxes.
The inheritance or estate tax is a tax on the right to transfer property at the owner's death. The estate's executor or administrator takes an accounting of everything the decedent owned on the date of death, using fair market value. This is the "gross estate" and if, f...
Federal inheritance tax is collected by the Internal Revenue Service and deposited with the U.S. Treasury, according to the IRS. In addition to federal taxes, seven states imposed inheritance taxes in 2015, which pay into their respective treasuries. The laws governing ...
Common questions about the Pennsylvania inheritance tax are related to tax rates, availability of discounts and lineal heirs. Other frequently asked questions are about the types of property subject to the tax and where the taxes may be filed.
The Indiana inheritance tax has been repealed for those individuals dying after Dec. 31st, 2012. Therefore, no current inheritance tax is levied, and no inheritance tax returns need be filed currently. For individuals who died before the repeal date, an inheritance tax ...