Posted: | December 3, 2012 10:18 AM |
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From: | Senator Kim L. Ward |
To: | All Senate members |
Subject: | Memo #4 - Inheritance Tax Phase Out |
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. |
Introduced as SB61