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HomeMy WebLinkAbout12-04-14 BUREAU OF INDIVIDUAL TAXES Pennsylvania Inheritance TaxpennsyLvania PO BOX 280601 DEPARTMENT OF REVENUE HARRISBURG PA 17128-0601 Information Notice 04 REv-15438 EX D..EXEC(08-12) And Taxpayer Response FILE NO.2114-0755 ACN 14508021 DATE 11-12-2014 Type of Account Estate of KERMIT W HOLLER Security SSN SEC Acct Date of Death 07-18-2014 Stock STEVEN S SCHAFFER County CUMBERLAND Bonds 47 N DUKE ST YORK PA 17401-1204 Use Nome- AeldIrt" 2686 56;11 Meadow C") ;a M York PA /215"Ov C> 03 rn =0 U; r— M rn Z" C> C) e— WELLS FARGO ADVISORS provided the department with the information below inclicatinflkat at)%be do of the above-named decedent you were a joint owner or beneficiary of the account icLL-ntified. 'cn C> Account No.5509 Remit Payment and Forms to: Date Established REGISTER OF WILLS Account Balance $6,710.40 1 COURTHOUSE SQUARE Percent Taxable X 25 CARLISLE PA 17013 Amount Subject to Tax $ 1,677.60 Tax Rate X 0.150 NOTE*: If tax payments are made within three months of the Potential Tax Due $251.64 decedent's date of death,deduct a 5 percent discount on the tax With 5%Discount(Tax x 0.95) $(see NOTE*) due. Any inheritance tax due will become delinquent nine months after the date of death. PART Step 1 : Please check the appropriate boxes below. 1 1 A No taxis due. I am the spouse of the deceased or I am the parent of a decedent who was 21 years old or younger at date of death. Proceed to Step 2 on reverse. Do not check any other boxes and disregard the amount shown above as Potential Tax Due. The information tiore is The above inforniation,is correct, no deductions are being taken,and payment wiiI be sent correct. with my response. Proceed to Step 2 on reverse. Do not check any other boxes. C F�The tax rate is incorrect. F—] 4.5% 1 am a lineal beneficiary(parent,child,grandchild, etc.) of the deceased. (Select correct tax rate at right,and complete Part � 12% 1 am a sibling of the deceased. 3 on reverse.) F—] 15% All other relationships(including none). D Changes or deductions The information above is incorrect and/or debts and deductions were paid. listed. Complete Part 2 and part 3 as appropriate on the back of this form. E Asset will be reported on The above-identified asset has been or will be reported and tax paid with the PA Inheritance Tax inheritance tax form Return filed by the estate representative. REV-1500. Proceed to Step 2 on reverse. Do not check any other boxes. Please sign and date the back of the form when finished. PART Debts and Deductions 2 Allowable debts and deductions must meet both of the following criteria: A. The decedent was legally responsible for payment, and the estate is insufficient to pay the deductible items. B. You paid the debts after the death of the decedent and can furnish proof of payment if requested by the department. (If additional space is required,you may attach 8 1/2"x 11"sheets of paper.) Date Paid Payee Description Amount Paid j Total (Enter on Line 5 of Tax Calculation) $ PART Tax Calculation 3 If you are making a correction to the establishment date(Line 1)account balance(Line 2),or percent taxable(Line 3), ` please obtain a written correction from the financial institution and attach it to this form. 1. Enter the date the account was established or titled as it existed at the date of death. 2. Enter the total balance of the account including any interest accrued at the date of death. .3. Enter the percentage of the account that is taxable to you. a. .First,determine the percentage owned by the decedent. i i.. Accounts that are held"in trust for"another or others were 100%owned by the decedent. ii. For joint accounts established more than one year prior to the date of death,the percentage taxable is 100%divided by the total number of owners including the decedent. (For example:2 owners=50%, 3 owners=33:33%,4 owners =25%, etc.) b. Next, divide the decedent's percentage owned by the number of surviving owners or beneficiaries. 4. The amount subject to taxis determined by multiplying the account balance by the percent taxable. 5. 'Enter the total of any debts and deductions claimed from Part 2. 6. )The amount taxable is determined by subtracting the debts and deductions from the amount subject to tax. 7. jEnter the appropriate tax rate from Step 1 based on your relationship to the decedent. If indicsEting a different tax rate,please state ©fflcla USe nay AAF your relationship to the decedent: �` ,y,,Ppa�tn�nt of_Revenue`�� 1. DIte Established 1 \ 2. A.,count Balance 2 $ �tiy \ \\\ \\ f B11,11It 3. PIrcent Taxable 3 X ° i 4. Amount Subject to Tax 4 $ �� V0vv \ \ M 3 5. Debts and Deductions 5 - 1&W" �y0 �\ \ \ \ I 6. Amount Taxable 6 $ \ „� o \ 7._:Fax,Rate —7 X $, V� �� �§ W 8. Tax Due 8 $ 4 211 9. With 5% Discount(Tax x .95) 9 X Step 2: Sign and date below. Return TWO completed and signed copies to the Register of Wills listed on the front of this form, along with a check for any payment you are making. Checks must be made payable to"Register of Wills,Agent." Do not send payment directly to the Department of Revenue. Under penalty of perjury, I declare that the facts I have reported above are true,correct and complete to the best of my knowledge and belief. Work '7 �-1 5 7 7 Home Taxpayer Signature Telephone Number Date IF YOU NEED FURTHER ASSISTANCE, CONTACT PENNSYLVANIA DEPARTMENT OF REVENUE DISTRICT OFFICE, OR THE INHERITANCE TAX DIVISION AT 717-787-8327. SERVICES FOR TAXPAYERS WITH SPECIAL HEARING AND/OR SPEAKING NEEDS ONLY: 1-800-447-3020