Loading...
HomeMy WebLinkAbout12-22-08PENNSYLVANIA INHERITANCE TAX FULTON BANK provided the Department with the information below, which has been used in calculating the potential tax due. Records indicate that at the death of the above-named decedent, you were a ioint owner/beneficiary of this account. If you feel the inforoation is incorrect, please obtain written correction from the financial institution, attach a copy to this fors and return it to the above address. This account is taxable in accordance with the Inheritance Tax laws of the Cosnonwealth of Pennsylvania. Please call C717) 787-8327 with questions. COMPLETE PART 1 BELOW * SEE REVERSE SIDE FOR FILING AND PAYMENT INSTRUCTIONS Account No. 3620-178 46 Date 05 -07-1999 To ensure proper credit to the account, two Established copies of this notice oust accompany Account Balance $ 14 1 38 77 payment to the Register of Wills. Make check , . payable to "Register of Wills. Agent". Percent Taxable X 50.000 Amount Subject to TaX $ 7 0 69 39 NOTE: If tax payments are made within three , . months of the decedent's date of death, TaX Rate X • 1 5 deduct a 5 percent discount on the tax due. Potential Tax Due $ 1 , 0 60 41 Any Inheritance lax due will become delinquent . nine months after the date of death. P T TAXPAYER RESPONSE ~ ~ ~ A t)FfICIAi. TAX A5~5SsME~NT' A. ^ The above information and tax due is correct. Remit payment to the Register of Wills with two copies of this notice to obtain C H E C K a discount or avoid interest, or check box "A" and return this notice to the Register of 0 N E wills and an official assessme nt will be issued by the PA Department of Revenue. [ B L 0 C K ~ g• ~ The above asset has been or will be reported and tax paid with the Pennsylvania Inheritance Tax return 0 N L Y to be filed by the estate representative. C. ^ The above inforna ion is incorrect and/or debts and deductions were paid. Complete PART 2~ and/or PART ~ below. PART If indicating a different tax rate, please state O~ F~C...E1L ~ ~ ~t~ relationship to decedent: ~r~~'ryf~ , ~i ~~le ~ ~~ i ~ r~ PA DEPART ~~, ~~ , ~i ~ ~~~ i~ 5 ~ ~ , ~~ TAX RETURN - COMPUTATION OF TAX ON JOINT/TRUST ACCOUNTS ~ 6V ~ ~~ I ~' ~ ~~~~, ~'' i' i~~~'10 flih~l~l,~iti~l7(t ~ D ~ ~=4:, t' ~1~~+.6. LINE i. Data Established 1 r '~'~ 'f~3 i I~~i~;. 1 13'~ 2. Account Balance 2 $ ~ 2 ~-3~ 'a ?~~ ~f~t~ ~ ~~?~y' 3. Percent Taxable 3 X 3 4. Amount Subject to Tax 4 $ ~ ~'¢ ~ i+~ { ~,~@~~'al''~8~~~'~~7fr'1~''r19~i'iki 5. Debts and Deductions 5 - ~ ~?~?<~ , r~'v ~~i , iylili+ 6. Amount Taxable 6 $ 7. Tax Rate 7 X 7 8. Tax Due g $ 8 PART DEBTS AND DEDUCTIDNS CLAIMED DATE PAID PAYEE DESCRIPTION AMOUNT PAID Under penalties of perjury, I declare that the facts I have reported above are true, correct and complete to the best my wledge and belief. HOME C ~`7 ) ~~ ~ ~ ~ ys .., WORK C 717 ) .3 3 tZQ. Ig• r. nwvro crr_uwrifoc` TELEPHONE NUMBER DATE INFORMATION NOTICE BUREAU OF INDIVIDUAL TAXES _..,9ND FILE N0. 21 C~F~ l~3'~ Po sax zas6ol ~~ TbXPAY~~t' RESPONSE ACN 08160418 HARRISBURG PA 17128-0601 __, ~' DATE 12-11-2008 REV-1543 IX AFP fOB-OB) ~' ' '~ ' L~r'~ ~~.~ ~2 ~~ ,„. ~~ TYPE OF ACCOUNT E{SST. F DONALD E HUSTON ^ SAVINGS SSN 006-32-7005 ® CHECKING ry ' `~ ~ ~~ D~ATTE OF DEATH 10-20-2008 ^ TRUSr C'F~ ~ '~ )~-II:UUNTY CUMBERLAND ^ CERTIF. C~,.r RE~ PAYMENT AND FORMS T0: MARIANNE M STAIGER REGISTER OF WILLS 117 SUNNYSIDE DR CUMBERLAND CO COURT HOUSE CARLISLE PA 17013 CARLISLE, PA 17013 IUTAL ctnLer on Line 5 of Tax Computation) ~ GENERAL INFORMATION 1. FAILURE TO RESPOND WILL RESULT IN AN OFFICIAL TAX ASSESSMENT with applicable interest based on information submitted by the financial institution. 2. Inheritance Tax becomes delinquent nine months after the decedent's date of death. 3. A joint account is taxable even when the decedent's name was added as a matter of convenience. 4. Accounts (including those held between husband and wife) the decedent put in joint names within one year prior to death are fully taxable. 5. Accounts established jointly between husband and wife more than one year prior to death are not taxable. 6. Accounts held by a decedent "in trust for" another or others are fully taxable. REPORTING INSTRUCTIONS - PART 1 - TAXPAYER RESPONSE 1. BLOCK A - If the information and computation in the notice are correct and deductions are not being claimed, place an "X" in Block A of Part 1 of the "Taxpayer Response" section. Sign two copies and submit them with a check for the amount of tax to the register of wills of the county indicated. The PA Department of Revenue will issue an official assessment (Form REV-1548 EX) upon receipt of the return from the register of wills. 2. BLOCK B - If the asset specified on this notice has been or will be reported and tax paid with the Pennsylvania Inheritance , Tax Return filed by the estate's representative, place an "X" in Block B of Part 1 of the "Taxpayer Response" section. Sign one copy and return to the register of wills of the county indicated. 3. BLOCK C - If the notice information is incorrect and/or deductions are being claimed, check Block C and complete Parts 2 and 3 according to the instructions below. Sign two copies and submit them with your check for the amount of tax payable to the resister of wills of the county indicated. The PA Department of Revenue will issue an official assessment (Form REV-1548 EX) upon receipt of the return from the register of wills. TAX RETURN - PART 2 - TAX COMPUTATION LINE 1. Enter the date the account originally was established or titled in the manner existing at date of death. NOTE: For a decedent who died after 12/12/82, accounts the decedent put in joint names within one year of death are fully taxable. However, there is an exclusion not to exceed 03,000 per transferee, regardless of the value of the account or the number of accounts held. If a double asterisk C^^) appears before your first name in the address portion of this notice, the 03,000 exclusion was deducted from the account balance as reported by the financial institution. 2. Enter the total balance of the account including interest accrued to the date of death. 3. The percentage of the account that is taxable to each survivor is determined as follows: A. The percentage taxable of joint assets established more than ono year prior to the decedent's death: 1 DIVIDED BY TOTAL NUMBER OF DIVIDED BY SURVIVINGBJOINT OWNERS MULTIPLIED BY 100 = PERCENT TAXABLE JOINT OWNERS Example: A joint asset registered in the name of the decedent and two other persons: 1 DIVIDED BY 3 (JOINT OWNERS) DIVIDED BY 2 (SURVIVORS) _ .167 X 100 = 16.7 percent (TAXABLE TO EACH SURVIVOR) 4. 6. 7. *The tax rate imposed on the net value of transfers from a deceased chi Y t death to or for the use of a natural parent, an adoptive parent or a stepparent of the child is 0 percent. The lineal class of heirs includes grandparents, parents, children and other lineal descendents. "Children" includes natural children whether or not they have been adopted by others, adopted children and step children. "Lineal descendents" includes all children of the natural parents and their descendents, whether or not they have been adopted by others; adopted descendents and their descendants; and step-descendants. "Siblings" are defined as individuals who have at least one parent in common with the decedent, whether by blood or adoption. The Collateral class of heirs includes all other beneficiaries. CLAIMED DEDUCTIONS - PART 3 - DEBTS AND DEDUCTIONS CLAIMED Allowable debts and deductions are determined as follows: The percentage taxable for assets created within one year of the decedent's death or accounts owned by the decedent but held in trust for another individual(s) (trust beneficiaries): 1 DIVIDED BY TOTAL NUMBER OF SURVIVING JOINT MULTIPLIED BY 100 = PERCENT TAXABLE OWNERS OR TRUST BENEFICIARIES Example: Joint account registered in the name of the decedent and two other persons and established within one year of death by the decedent. 1 DIVIDED BY 2 (SURVIVORS) _ .50 X 100 = 50 percent (TAXABLE FOR EACH SURVIVOR) The amount subject to tax (Line 4) is determined by multiplying the account balance (Line 2) by the percent taxable (Line 3). Enter the total of the debts and deductions listed in Part 3. The amount taxable (Line 6) is determined by subtracting the debts and deductions (Line 5) from the amount subject to tax (Line 4). Enter the appropriate tax rate (Line 7) as determined below. Date of Death Spouse Lineal Sibling Collateral 07/01/94 to 12/31/94 3 percent 6 percent 15 percent 15 percent 01/01/95 to 06/30/00 0 percent 6 percent 15 percent 15 percent 07/01/00 to present 0 percent 4.5 percent * 12 percent 'ld 21 ears of 15 age percent or younger a A. You are legally responsible for payment, or the estate subject to administration by a personal representative is insufficient to pay the deductible items. B. You actually paid the debts after the death of the decedent and can furnish proof of payment. C. Debts being claimed must be itemized fully in Part 3. If additional space is needed, use 8 1/2" x 11" sheet of Doper. Proof of __.._....a s., tie ~o~,~o<tod by the PA Department of Revenue.