|Posted:||December 4, 2014 02:41 PM|
|From:||Senator Kim L. Ward|
|To:||All Senate members|
|Subject:||Elimination of the "Death Tax"|
|In the near future, I plan to reintroduce Senate Bill 61 of last session, 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 tax based upon someone's death. Pennsylvania remains one of only six states that still impose an inheritance tax. Of those six states, Tennessee is eliminating its inheritance tax in 2016. 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 SB331