|Posted:||December 3, 2012 10:18 AM|
|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