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Follow the step-by-step guide to fill inheritor company:
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- Locate your document in your folders or upload a new one.
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there is a significant inheritance tax in the Commonwealth of Pennsylvania all right so if you reside in Pennsylvania and you're gonna leave assets to someone other than a spouse you are going to pay in inheritance tax or actually better yet they're gonna pay it is big big-time we want to do is video for over a year I just keep pushing off push not pushing off I'll do one of Massachusetts here shortly as well and then I got a person coming in to my youtube channel about how their brother I think or somebody and their family had to pay got walloped with Pennsylvania tax and I said inherit his tax and she said I think so so if you're residing in Pennsylvania and you're going to die in Pennsylvania be advised the inheritance tax awaits you and it's not friendly so let's talk about my friends so we minimized ourselves we're gonna start with a Commonwealth of Pennsylvania zone website this is make this bigger here deulim yeah revenue PA gov the Pennsylvania Department of Revenue the inheritance tax inheritance tax as opposed as a percentage of the value of the decedent's as you'd the dying person estate transfer to beneficiaries by will heirs by intestine C or transfer transfer use by operation of law the tax rate varies depending on the relationship the heir to the decedent the rates with inheritance tax are as follows 0% on transfers to a surviving spouse or to a parent from an aged child from a child aged 21 or younger so if you're married and I believe Josh dies and PA moves to my wife it is tax-free or if from a parent from a child aged 21 or younger it's tax-free as well four and a half percent on transfers to direct descendants and lineal heir so going downstream so it goes me and my wife I fine going down to my four kids four and a half percent 12 percent if transferred to siblings so if I transfer my brother Ben and my sister Abbie twelve percent and then fifteen percent two other heirs accept charitable organizations exempt or anybody else so with whoever I leave it to I leave to Joe down the street is a 15 percent property owned jointly between spouses is exempt from inheritance tax effective for estates of decedent's dying after 2012 certain for other agricultural property are exactly that well good luck with that and heritage taxpayers are due upon the death of this seat of the decedent and become delinquent nine months after the individuals death if inheritance tax is paid within three months of the decedent's death a 5% discount is allowed well thank you all right so we got a loss inheritance tax Q&A I'm not against that here cuz we're gonna go to a couple other points but remember you know it's an essay any exemption amounts did yeah yeah right so you think only rich...
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