Bill
Bill > HB1555
summary
Introduced
06/04/2025
06/04/2025
In Committee
06/04/2025
06/04/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An act relating to tax reform and State taxation by codifying and enumerating certain subjects of taxation and imposing taxes thereon; providing procedures for the payment, collection, administration and enforcement thereof; providing for tax credits in certain cases; conferring powers and imposing duties upon the Department of Revenue, certain employers, fiduciaries, individuals, persons, corporations and other entities; prescribing crimes, offenses and penalties," in inheritance tax, further providing for payment date and discount.
AI Summary
This bill modifies the inheritance tax payment and discount provisions in Pennsylvania's Tax Reform Code. Currently, inheritance tax is due at the date of the decedent's death and becomes delinquent nine months after death. The key change is shifting the timing of the five percent discount: instead of being based on payment within three months of the decedent's death, the discount will now be available within three months of the issuance of a notice under section 2140. This subtle but important modification could provide more clarity and flexibility for taxpayers in managing inheritance tax payments. The bill is set to apply to tax years after December 31, 2026, and will take effect immediately upon passage. The change aims to potentially make the inheritance tax process more straightforward by linking the discount period to an official notice rather than the date of death.
Committee Categories
Budget and Finance
Sponsors (15)
Russ Diamond (R)*,
Mike Armanini (R),
Jake Banta (R),
Jill Cooper (R),
Justin Fleming (D),
Mark Gillen (R),
Charity Grimm Krupa (R),
Lee James (R),
Rob Kauffman (R),
Malcolm Kenyatta (D),
Nikki Rivera (D),
David Rowe (R),
Stephenie Scialabba (R),
Michael Stender (R),
Dave Zimmerman (R),
Last Action
Referred to Finance (on 06/04/2025)
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