summary
Introduced
02/28/2025
02/28/2025
In Committee
02/28/2025
02/28/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
Amending the act of June 20, 1919 (P.L.521, No.258), entitled "An act providing for the imposition and collection of certain taxes upon the transfer of property passing from a decedent who was a resident of this Commonwealth at the time of his death, and of property within this Commonwealth of a decedent who was a nonresident of the Commonwealth at the time of his death; defining and taxing transfers made in contemplation of death; defining as a transfer and taxing the right of survivorship in property as to which such right exists; and making it unlawful for any corporation of this Commonwealth, or national banking association located therein, to transfer the stock of such corporation or banking association, standing in the name of any such decedent, until the tax on the transfer thereof has been paid; and providing penalties; and citing certain acts for repeal," changing the rate of commission.
AI Summary
This bill amends the Transfer Inheritance Tax Law by changing the commission rate that registers of wills receive when collecting inheritance taxes. Previously, the registers of wills were paid on a tiered percentage basis: 4.25% for tax collections up to $200,000, 1.75% for collections between $200,000 and $1,000,000, and 0.5% for collections over $1,000,000. The bill simplifies this structure by establishing a flat 4.25% commission rate on all gross inheritance tax collections, regardless of the total amount collected. The legislation will go into effect 60 days after its passage, which will impact how county registers of wills are compensated for their work in collecting inheritance taxes. This change streamlines the commission structure and provides a consistent percentage rate for tax collection efforts across different collection amounts.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Referred to Finance (on 02/28/2025)
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