Pennsylvania Makes Significant Changes to Inheritance Tax Law

Pennsylvania inheritance tax law

On July 9, 2013, Pennsylvania enacted new legislation that made significant changes to their inheritance tax law by exempting the transfer of small family owned businesses. (H.B. 465)  A qualified family-owned business is defined as a proprietorship or entity with fewer than 50 full time employees and assets less than $5,000,000 at the decedent’s death.  […]