Memo #4 - Inheritance Tax Phase Out
December 3, 2012 10:18 AM to All Senate Members
Circulated By
Senator Kim Ward
R Senate District 39
Memo
In the near future, I plan to reintroduce Senate Bill 1113, which would completely phase out the Pennsylvania Inheritance Tax, otherwise known as the ‘death tax.’
In 1826, Pennsylvania became the first state to adopt a death tax. Pennsylvania remains one of thirteen states that still impose such a tax. These death taxes are particularly harmful to small businesses and impose a double-tax on all estates.
My legislation would phase out the inheritance tax over a number of years as follows:
If you have any questions regarding this legislation, please do not hesitate to contact my office at 717-787-6063.
In 1826, Pennsylvania became the first state to adopt a death tax. Pennsylvania remains one of thirteen states that still impose such a tax. These death taxes are particularly harmful to small businesses and impose a double-tax on all estates.
My legislation would phase out the inheritance tax over a number of years as follows:
- The current tax rate of 4.5% for direct descendents (children) would be reduced to 2% in 2014 and completely phased out by 2015.
- The current tax of 12% for siblings would be reduced by 3% a year until 2017, when it is completely phased out.
- The current tax rate of 15% for all other heirs would be reduced by 3% a year until 2019, when it is completely phased out.
If you have any questions regarding this legislation, please do not hesitate to contact my office at 717-787-6063.
Legislation
Document - Introduced as SB 61
Memo #4 - Inheritance Tax Phase Out
December 3, 2012 10:18 AM to All Senate Members
Circulated By
WARD
Memo
In the near future, I plan to reintroduce Senate Bill 1113, which would completely phase out the Pennsylvania Inheritance Tax, otherwise known as the ‘death tax.’
In 1826, Pennsylvania became the first state to adopt a death tax. Pennsylvania remains one of thirteen states that still impose such a tax. These death taxes are particularly harmful to small businesses and impose a double-tax on all estates.
My legislation would phase out the inheritance tax over a number of years as follows:
If you have any questions regarding this legislation, please do not hesitate to contact my office at 717-787-6063.
In 1826, Pennsylvania became the first state to adopt a death tax. Pennsylvania remains one of thirteen states that still impose such a tax. These death taxes are particularly harmful to small businesses and impose a double-tax on all estates.
My legislation would phase out the inheritance tax over a number of years as follows:
- The current tax rate of 4.5% for direct descendents (children) would be reduced to 2% in 2014 and completely phased out by 2015.
- The current tax of 12% for siblings would be reduced by 3% a year until 2017, when it is completely phased out.
- The current tax rate of 15% for all other heirs would be reduced by 3% a year until 2019, when it is completely phased out.
If you have any questions regarding this legislation, please do not hesitate to contact my office at 717-787-6063.
Document
Introduced as SB 61
Generated 04/29/2025 08:48 AM