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HomeMy WebLinkAbout04-08-10 (2)PENNSYLVANIA INHERITANCE TAX INFORMATION NOTICE BUREAU OF INDIVIDUAL TAXES ~r' ,~.,, +~.,._` ~,,,-_„ ~, AND FILE N0. 21 I ~ ~3~~ PO BOX 280601 , HARRISBURG PA 1 ~12a-0601 -`` '~`-` ~`~`~~YER RESPONSE ACN 09179994 REV-1543 EX AFP (08-08) +~.~'ie3l,".,~ ~~~ ~~r*~~.~.J DATE 12-18-2009 Z~~~ ApR _8 ~~ ~~ ~~ TYPE OF ACCOUNT EST. OF MICHAEL GIBB ~ SAVINGS ~, SSN 187-38-0486 ~ CHECKING ~~~~~~ DATE OF DEATH 12-05-2009 ~ TRUST ~~~ ~ COUNTY CUMBERLAND 0 CERTIF. ., ~ REMIT PAYMENT AND FORMS T0: BOYD GIBB REGISTER OF WILLS 319 JUNIPER STREET CUMBERLAND CO COURT HOUSE CARLISLE PA 17013 CARLISLE, PA 17013 MEMBERS 1ST F CU 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 joint owner/beneficiary of this account. If you feel the information is incorrect, please obtain written correction from the financial institution, attach a copy to this form and return it to the above address. This account is taxable in accordance with the Inheritance Tax laws of the Commonwealth of Pennsylvania. Please call C717) 787-8327 with questions. COMPLETE PART 1 BELOW ~ SEE REVERSE SIDE FOR FILING AND PAYMENT INSTRUCTIONS Account No. 35567-50 Date 02-03-2006 To ensure proper credit to the account, two Established copies of this notice must accompany Account Balance ~ 1, 154.67 payment to the Register of Wills. Make check Percent Taxable X payable to "Register of Wills, Agent". 50.000 Amount Subject to Tax $ 577.34 NOTE: If tax payments are made within three Tax Rate months of the decedent's date of death, X . 1 2 deduct a 5 percent discount on the tax due. Potential Tax Due $ 69.28 Any Inheritance Tax due will become delinquent nine months after the date of death. PART TAXPAYER RESPONSE A. The above information and tax due is correct. Remit payment to the Register of Wills with two copies of this notice to obtain CHECK a discount or avoid interest, or check box "A" and return this notice to the Register of 0 N E Wills and an official assessment will be issued by the PA Department of Revenue. B L 0 C K B. ~ 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 informs ion is incorrect and/or debts and deduc ions ere paid Complete PART 2~ and/or PART L.__I below. ~~f ,Vi,''CQvt~~(,S 'L_.( ~`~,- SOG/ PART If indicating a different tax rate, please state ~1 ~c1~~ a relationship to decedent: f, , TAX RETURN - COMPUTATION LINE 1. Date Established 2. Account Balance 3. Percent Taxable 4. Amount Subject to Tax 5. Debts and Deductions 6. Amount Taxable 7. Tax Rate 8. Tax Due PART 0 DATE PAID PAYEE OF TAX ON JOINT/T UST ACCOUNTS 1 ~ a3 -d~ 2 $ 3 X d o 4 '~ 7 7. 5 (~ 6 $ ~ X S o 8 $ DEBTS AND DEDUCTIONS CLAIMED DESCRIPTION AMOUNT PAID TOTAL CEnter on Line 5 of Tax Computation) g Under penalties of perjury, I declare that the facts I have reported above are true, correct and complete to the best of my knowledge and belief. HOME C ) ~ c} ., '7S '~ 4 TAXPA S GNATURE WORK C ) ~1)~ TELEPHONE NUMBER DATE 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 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. 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 dea NOTE: For a decedent who died afterl2/12/82, accounts the decedent put in joint names within one year of death are fully taxable. However, there is an exclusion not to exceed 53,OOD 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 53,000 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 one 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) B. 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 near of death by the decedent. 1 DIVIDED BY 2 (SURVIVORS) _ .50 X 100 = 50 percent (TAXABLE FOR EACH SURVIVOR) 4. The amount subject to tax (Line 4) is determined by multiplying the account balance (Line 2) by the percent taxable (Line 3). 5. Enter the total of the debts and deductions listed in Part 3. 6. The amount taxable Cline 6) is determined by subtracting the debts and deductions Cline 5) from the amount subject to tax (Line 4). 7. Enter the appropriate tax rate (Line 7) as determined below. Spouse Lineal Sibling Collateral Date of Death 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 15 percent *The tax rate imposed on the net value of transfers from a deceased child 21 Years of age or Younger at death to or for the use of a natural parent, an adoptive parent or a stepparent of the child is 0 percent. The lineal cl{sthef havesbeenladoptedabvpothers, adopted~childrennanddstepechildren.deLinealndescendentsenincludeseallachildrenlofrthe whether or no Y naturae pdescendantsth°Siblings°daresdefinedeasoindividualshwho have atoleastbonetparentainpcommonswithethe decedents whetherabvsblood and st p 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: 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 paper. Proof of . __ i~_ n. n....~..+.oont of RwVa_nue. PENNSYLVANIA INHERITANCE TAX INFORMATION NOTICE BUREAU OF INDIVIDUAL TAXES AND F I L E NO , 21 ~ C~ (~ 3~~ PO BOX 280601 ~< }'''a^~ lw`~ f HARRISBURG PA 17128-0601 -~' ~ *- '~~tR RESPONSE ACN 09179995 r~ .t .. REV-1543 EX aFP (08-OB)+ ,._l~ ~J ~ 1..~ k ~,;~~ > f,~~ 1 -~. DATE 12 -18 - 20 09 ~~1~ A}?R ,.Q py ~+ TYPE OF ACCOUNT EV7 f-`I T. OF MICHAEL GIBB ~ SAVINGS SSN 187 - 38 - 0486 ~ CHECKING ~-~ ~ DATE OF DEATH 12-05-2009 ~ TRUST ~~~~'~ C~~' COUNTY CUMBERLAND ~ CERTIF. ~,~ REMIT PAYMENT AND FORMS T0: BOYD GIBBREGISTER OF WILLS 319 JUNIPER STREET CUMBERLAND CO COURT HOUSE CARLISLE PA 17013 CARLISLE, PA 17013 MEMBERS 1ST FCU 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 d If d ece ent, you feel the information is incorrect, please obtain written correction from the and return it to the above address This you were a joint owner/beneficiary of this account. financial institution atta h . account is taxable in accordance with the Pennsylvania. Please call C717) 787-8327 with questions. , c a copy to this form Inheritance Tax laws of the Commonwealth of COMPLETE PART 1 BELOW * SEE REVERSE SIDE FOR FILING AND PAYMENT INSTRUCTIONS Account No. 35567-72 Date 05-05-2008 Established To ensure proper credit to the account, two Account Balance copies of this notice must accompany ~- 1 , 135.4$ payment to the Register of Wills. Make check Percent Taxable X 50.000 payable to "Register of Wills, Agent". Amount Subject to Tax ~- 567.74 NOTE: If tax payments are made within three Tax Rate X months of the decedent's date of death, . 1 2 Potential Tax Due deduct a 5 percent discount on the tax due. $ 68.13 Any Inheritance Tax due will become delinquent PART nine months after the date of death. TAXPAYER RESPONSE - - .... .... ... a .- !i'~N~4 I'9l 9/+~' / ~ +S• A• The above information and tax due is correct. Remit payment to the Register of Wills with two copies of this notice to obtain CHECK a discount or avoid interest, or check box "A" and return this notice to the Register of 0 N E Wills and an official assessment will be issued by the PA Department of Revenue. B L 0 C K B. ~ 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• WV The above informs ion is incorrect and/or debts and dedu tion were paid. //"~~ Complete PART L:J and/or PART 3~ below. ~C~`,~„f „_ _ ~ t.~t~ 7~rk~~r S S o ~ PART If indicating a different tax rate, please state relationship to decedent: TAX RETURN - COMPUTATION LINE 1. Date Established 2. Account Balance 3. Percent Taxable 4. Amount Subject to Tax 5. Debts and Deductions 6. Amount Taxable 7. Tax Rate 8. Tax Due PART 0 DATE PAID PAYEE OF TAX ON JOINT/TQ.UST ACCOUNTS . ~j ~. '3 s ``'~y DEBTS AND DEDUCTIONS CLAIMED 1 ''" ~- 0 2 $ 3 X 4 $ ~p 5 6 7 X p 8 '~ . DESCRIPTION AMOUNT PAID TOTAL CEnter on Line 5 of Tax Computation) S Under penalties of perjury, I declare that the facts I have reported above are true, correct a d complete to the bes o my knowledge and belief. HOME ( ~ ~ ~ ~~,5'J~ WORK ( ~ ,~ ~d TAXPAYER SIGNATURE TELEPHONE NUMBER AT GENERAL INFORMATION 1. FAILURE TO RESPOND WILL RESULT IN AN OFFICIAL TAX ASSESSMENT with applicable interest based or. information submitted by the financial institution. 2. Inheritance Tax becomes delinquent nine months after the decedent's date of death. 3. A ]oint 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 near 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 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. 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 deat . NOTE: For a decedent who died afterl2/12/82, accounts the decedent put in joint names within one Year of death are fully taxable. However, there is an exclusion not to exceed 53,000 per transferee, regardless of the value of the account or the number of accounts held. wasadeductedafromitheCaccountebalanceoas reported by nthe financialdinstitutionn of this notice, the &3,000 exclusion 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 one 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) B. 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 near of death by the decedent. 1 DIVIDED BY 2 (SURVIVORS) _ .50 X 100 = 50 percent (TAXABLE FOR EACH SURVIVOR) 4. The amount subject to tax (Line 4) is determined by multiplying the account balance (Line 2) by the percent taxable Cline 3). 5. Enter the total of the debts and deductions listed in Part 3. 6. The amount taxable (Line 6) is determined by subtracting the debts and deductions (Line 5) from the amount subject to tax Cline 4). 7. Enter the appropriate tax rate (Line 7) as determined below. Date of Death Spouse 07/01/94 to 12/31/94 3 percent 01/01/95 to 06/30/00 0 percent 07/01/00 to present 0 percent t lue of tran Lineal Sibling Collateral 6 percent 15 percent 15 percent 6 percent 15 percent 15 percent 4.5 percent * 12 percent 15 percent sfers from a deceased child 21 Years of age or younger at t *The tax rate imposed on the ne va death to or for the use of a natural parent, an adoptive parent or a stepparent of the child is percen . The lineal class of hevesbeenladoptedabypothers, adopted~childrennanddstepechildren.deLinealndescendentsenincludeseallachildrenlof rthe whether or not then ha natural parentsdantsth°Siblings"daresdefinedeasoindividualshwho have atoleastbonetparentainpcommonswithethe decedents whetherabvsblood and step-descen 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: 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 paper. Proof of .. .,. n__...+.......+ of Revenue.