HomeMy WebLinkAbout06-08-15 NOTICE OF INHERITANCE TAX 1 Pennsylvania
APPRAISENENT, ALLOWANCE OR DISALLOWANCE DEPARTMENT OF REVENUE
BUREAU OF INDIVIDUAL TAXES ' OF DEDUCTIONS AND ASSESSMENT OF TAX
INHERITANCE TAX DIVISION _ REV-1547 EX AFP (11-14)
PO BOX 280601 P
I:C 0 R E D C'F F i Ot E 0 F
HARRISBURG PA 17128-0
R DATE 06-08-2015
JUN 8 p[;; 1-2 3 ESTATE OF SIMPSON JERRY T
DATE OF DEATH 01-09-2014
FILE NUMBER 21 14-0086
COUNTY CUMBERLAND
ROGERS ESQg,1?Pk!ELY9E_ C
ACN 101
STE 400 c
.um , APPEAL DATE: 08-07-2015
635 N 12TH ST (See reverse side under Objections}
LEMOYNE PA 17043 Amount Remitted!
MAKE CHECK PAYABLE AND REMIT PAYMENT TO:
REGISTER OF WILLS
I COURTHOUSE SQUARE
CARLISLE PA 17013
CUT ALONG THIS LINE � RETAIN LOWER PORTION FOR YOUR RECORDS 4-
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DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX
ESTATE OF: SIMPSON JERRY TFILE NO. :21 14-0086 ACN: 101 DATE: 06-08-2015
TAX RETURN WAS: C ) ACCEPTED AS FILED C X) CHANGED SEE ATTACHED NOTICE
APPRAISED VALUE OF RETURN BASED ON: ORIGINAL RETURN
1. Real Estate (Schedule A) Cl) .00 NOTE: To ensure proper
2. Stocks and Bonds (Schedule B) C2) 2,953,370.25 credit to your account,
3. Closely Held Stock/Partnership Interest (Schedule C) (3) 4,025,308.73 submit the upper portion
of this form with your
4. Mortgages/Notes Receivable (Schedule D) (4) .00 tax payment.
5. Cash/Bank Deposits/Misc. Personal Property (Schedule E) (5) 430,719. 10
6. Jointly Owned Property (Schedule F) C6) 1,167.18
7. Transfers (Schedule G) (7) 298,908.52
8. Total Assets (8) 7,709,473.78
APPROVED DEDUCTIONS AND EXEMPTIONS:
9. Funeral Expenses/Adm. Costs/Misc. Expenses (Schedule H) (9) 19,844.49
10. Debts/Mortgage Liabilities/Liens (Schedule 1) (10) 40,020.59
11. Total Deductions (11) 59,865.08
12. Net Value of Tax Return (12) 7,649,608.70
13. Charitable/Governmental Bequests; Non-elected 9113 Trusts (Schedule J) (13) 7,241 ,723.00
14. Net Value of Estate Subject to Tax (14) 407,885.70
NOTE: If an assessment was issued previously, Lines 14, 15, 16, 17, 18 and/or 19 will
reflect figures that include the total of all returns assessed to date.
ASSESSMENT OF TAX:
15. Amount of Line 14 at spousal rate (15) 331,718.52 X 00 = .00
16. Amount of Line 14 taxable at lineal rate (16) 74,167- I R x 045 = 3,427.52
17. Amount of Line 14 at sibling rate (17) 00 X 12 = .00
18. Amount of Line 14 taxable at collateral rate (18) .00 x 15 = .00
19. Principal Tax Due (19)= 3,427.52
TAX CREDITS:
PAYMENT RECEIPT DISCOUNT AMOUNT PAID
DATE NUMBER INTEREST/PEN PAID
04-09-2014 CDO18990 171.38 3,256. 15
TOTAL TAX PAYMENT 3,427.53
BALANCE OF TAX DUE .01CR
INTEREST AND PEN. .00
TOTAL DUE .01CR
IF PAID AFTER DATE INDICATED, SEE REVERSE IF TOTAL DUE IS REFLECTED AS A CREDIT (CR), YOU MAY BE DUE
FOR CALCULATION OF ADDITIONAL INTEREST. A REFUND. SEE REVERSE SIDE FOR INSTRUCTIONS.
REV-1470 EX(01-10)
pennsylvania INHERITANCE TAX
DEPARTMENT OF REVENUE EXPLANATION
BUREAU OF INDIVIDUAL TAXES OF CHANGES
PO Box 280601
28-0601
DECEDENT'S NAME FILE NUMBER
Simpson, Jerry T. 2114-0086
REVIEWED BY ACN
Jklinger 101
ITEM
SCHEDULE NO. EXPLANATION OF CHANGES
Powder Mill Associates discounts disallowed. New calculation as follows.
Indicated Values x Weighting: $14,073,275.00 x 75% = $10,554,956.25
Indicated Values x Weighting: $14,057,152.00 x 25% = $3,514,288.00
Weighted Values: $10,554,956.25 + $3,514,288.00 = $14,069,244.25
$14,069,244.25 x 25% Share = $3,517,311.07 Partners share of business
East Cocalico Associates discounts disallowed. New calculation as follows. .
2 Indicated Values x Weighting: $943,457.00 x 30% = $283,037.10
Indicated Values x Weighting: 111,794,781.00 x 70% = $1,256,346.70
Weighted Values: $283,037.10 + $1,256,346.70 = $1,539,383.80
$1,539,383.80 x 33% Share = $507,996.66 Partners share of business
C The above adjustments made the net value of the businesses on the Schedule C come to:
$4,025,308.73. This has been reflected on the REV-1500 and applied to the trust funds with
no election to tax.
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