How much state and federal tax do you have to pay in Pennsylvania for inheritance.?
There is no Federal tax for the person who inherits. The Federal Estate Tax is paid, for estates valued at more than $2 million, by the estate before the estate is disbursed. As far as the Pennsylvania Inheritance Tax goes, it all depends on your relationship to the deceased. I found this online at a Pennsylvania attorney’s web site. PENNSYLVANIA INHERITANCE TAX One of the first questions asked by those who prepare to plan their estates is “How will my property be taxed at the time of my death?” Many are pleased to know that they need not worry about federal estate tax since Uncle Sam imposes this levy in the year 2008 only if the estate exceeds $2 million (the federal estate tax threshold is likely to change). The same, however, cannot be said of Pennsylvania inheritance tax. The Pennsylvania tax applies regardless of the size of the estate. There are, however, ways to reduce Pennsylvania’s inheritance tax. But to do so, you must understand some of the ground rules. The Pennsylvania i
