Skip to Content

We are a Veteran Owned Business, providing 20% discounts for Veterans, First Responders, Elementary and High School teachers. Please contact us to set up a phone or Zoom meeting. Taking care of you and your family, It's What We Do!

Pennsylvania Inheritance Tax Discount – Maybe

Posted on Sat Nov 15, 2014, on Probate and Estate Administration

From our “Ask a Question” Mailbag: Pennsylvania Inheritance Tax Discount

Most Recently Updated July 8, 2018.

“Is there ever a discount with the Pennsylvania Inheritance Tax?”

Pennsylvania Inheritance Tax Discount

Pennsylvania Inheritance Tax Discount

To avoid interest and penalties, the Pennsylvania Inheritance Tax must be paid within 9 months of the date of death. As executor, you are responsible to make the payment. If you delay, and interest or penalties are created, the beneficiaries may demand that you be held responsible.

File Within Three Months of the Date of Death

To encourage you to make the payment early, the Commonwealth gives the estate a discount of 5% of the lesser of the tax paid or the tax due if you make payment within 3 months of the date of death.

This encourages executors to guess at the amount due and make early payment. When the actual tax return is filed and the correct tax due calculated, the 5% discount is applied.

If you overpaid, you get a discount on the tax due and the estate receives a refund. If you underpaid, you get the discount on the tax you actually paid but you pay the outstanding amount at the full rate without a discount.

More Probate Questions?

Filing the PA Inheritance Tax timely is only part of the overall probate process. By all means, if you wish to learn more, please read my more detailed article, The Probate Process All You Need to Know.

In Conclusion: Pennsylvania Inheritance Tax Discount

I hope that this article was helpful in explaining when a discount is applied to the PA Inheritance Tax. Further, I included links to even more detailed information on my website. Therefore, please contact me and let me know how I did. Certainly, your comments and questions are welcome!

Let our Probate Lawyers help walk you through what can be a confusing process. To begin with, call to speak to one of our experienced Probate Attorneys.  By all means, our lawyers are ready to answer your questions. In fact, feel free to contact our office for a free consultation. Ultimately our goal is to make the process as painless as possible!

Wills, Trusts, Probate, and Estate Litigation, It’s All We Do

Tags:

Death taxes, Delaware County, Inheritance Tax, Pennsylvania, Probate, Probate Attorney, Probate Lawyer

Peter KlenkPeter Klenk

What Our clients are saying

Klenk Law Logo
Stars

Maxine G.

Peter Klenk made a complex subject understandable and allowed us to move forward with our estate planning. He was patient with our questions and creative in the solutions he proposed.

Klenk Law Logo
Stars

Anita R.

Peter came highly recommended by a close friend to do our estate planning. We have been putting off for years. He is knowledgeable, professional and easy to work with.

Klenk Law Logo
Stars

Chris Curcio

Fantastic customer service. Very personable and most importantly they provide great explanations of what is required based on your individual needs. Highly recommend Klenk Law for anyone that needs to create a will and estate documents.

Klenk Law Logo
Stars

Stephen T.

Peter and his staff handled all of our needs in a very professional and timely matter.

Klenk Law Logo
Stars

Maggie K

Peter Klenk is an extraordinary attorney with positive guidance and knowledge for all of your Trust and Estate needs. We have used him for over 20 years.

Let us put our expertise to work for you.

Free consultation within 24 hours.