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Home My WebLink About09-07-06 --.J 15056041046 REV-1500 EX (05-04) PA Department of Revenue '* Bureau of Individual Taxes Depl. 280601 Harris.~urg, Pi\. 17~28-0601 ENTER DECEDENT INFORMATION BELOW Social Number Date of Death INHERITANCE TAX RETURN RESIDENT DECEDENT Date of Birth Suffix Decedent's First Name MI (If Applicable) Enter Surviving Spouse's Information Below Last Name Suffix MI THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS FILL IN APPROPRIATE OVALS BELOW _ 1. Original Return c:> 2. Supplemental Return c:> 3. Remainder Return (date of death prior to 12-13-82) 5. Federal Estate Tax Return Required - 4. Lir,niteq E!'ijate _ c:> c:> c:> 4a. Future Interest Compromise (date of death after 12-12-82) c:> 7. Decedent Maintained a Living Trust (Attach Copy of Trust) c:> 10. Spousal Poverty Credit (date of death c:> 11. Election to tax under Sec. 9113(A) between 12-31-91 and 1-1-95) (Attach Sch. 0) CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO: Name Daytime Telephone Number 6. Decedent Died Testate (Attach Copy of Will) 9. Litigation Proceeds Received 8. Total Number of Safe Deposit Boxes c:> REGIST~~WILLS U~NLY::t) K~ S:::n en I~=-i (:.:< ~:Ep ~ f.'~...~~ ~ r-~gj I Iii m ~cn7' -J ::0 0 OO~ -0 ~~~ 88 X :II ;:0 ~ :o~ ~ ::t> DATE FILED Correspondent's e-mail address: Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge. SIGNATURE OF PERSON RESPONSIBLE FOR FILING RETURN DATE ADDRESS SIGNATURE OF PREPARER OTHER THAN REPRESENTATIVE DATE ADDRESS PLEASE USE ORIGINAL FORM ONLY Side 1 L 15056041046 15056041046 -I .-J 15056042047 REV-1500 EX Decedent's Name: RECAPITULATION . .. '" -.... 1. Real estate (Schedule A): .: . . . . : . . : . . . . . . . . . . . . . . : . . . . . . .' . . . . . . . ~ . . : .. 1. .2. Stocks and Bonds (Schedule BJ.. . .~. . . '.' . . . ..... . . . . . . . . . . . . . . . . . . . . . . . .. 2. " .-.\ ~ 3. Closely Held Corporation, Partnership or Sole-Prpprietorship (Schedule C) . . . .. 3. 4. Mortgages & Notes Receivable (Schedule D) . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 4. 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) . . . . . . .. 5. 6. Jointly Owned Property (Schedule F) <:::) Separate Billing Requested. . . . . .. 6. 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G) <:::) Separate Billing Requested. . . . . . .. 7. 8. Total Gross Assets (total Lines 1-7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 8. 9. Funeral Expenses & Administrative Costs (Schedule H). . . . . . . . . . . . . . . . . . . .. 9. 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) . . . . . . . . . . . . . . . . 10. 11. Total Deductions (total Lines 9 & 10). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. 12. Net Value of Estate (Line 8 minus Line 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12. 13. Charitable and Governmental Bequests/See 9113 Trusts for which · an electiorr to 'tax nas not been.made (Schedule J) . . . . . . . :. . . '. . :.:. . .:~ . ..~. .'. 13. 14. Net Value Subject to Tax (Line 12 minus Line 13) . . . . . . . . . . . . . . . . . . . . . . . . 14. TAX COMPUTATION. SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 (a)(1.2) X .0_ 16. Amount of Line 14 taxable at lineal rate X.O_ 17. Amount of Line 14 taxable at sibling rate X .12 18. Amount of Line 14 taxable at collateral rate X .15 19. TAX DUE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT Side 2 L 15056042047 c:> 15056042047 ....J REV-1500 EX Page 3 Decedent's Complete Address: DECEDENT'S NAME File Number STREET ADDRESS --~-_...._._----_._..._----_._~--_._~--~----_.._-- -----, ------- -- ---_.,._------....._--_.....~"----_.__.._-- -- --- -------- _._-~._------~-- ------------.--------.-... '--,. ------.----.--------.--- - -~----------- - ------ ------ CITY --------------------~--,--------.~--- -- ------l-STATE----- ! lIP -------------- Tax Payments and Credits: 1. Tax Due (Page 2 Line 19) 2. Credits/Payment~ A. Spousal Poverty Credit 8. Prior Payments C. Discount (1 ) () 3. Interest/Penalty if applicable D. Interest E. Penalty Total Credits ( A + 8 + C ) (2) --~------ Total Interest/Penalty ( D + E ) (3) 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Fill in oval on Page 2, Line 20 to request a refund. (4) 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) A. Enter the interest on the tax due. 8. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (5A) (58) <> Make Check Payable to: REGISTER OF WILLS, AGENT PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: Yes No a. retain the use or income of the property transferred;..........................................................................."............. 0 0 b. retain the right to designate who shall use the property transferred or its income; ............................................ 0 0 c. retain a reversionary interest; or.......................................................................................................................... 0 0 d. receive the promise for life of either payments, benefits or care? ...................................................................... 0 0 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration? .............................................................................................................. 0 0 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? .............. 0 0 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? ........................................................................................................................ 0 0 IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is three (3) percent [72 PS. ~9116 (a) (1.1) (i)]. For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero (0) percent [72 P.S. 99116 (a) (1.1) (ii)]. The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1, 2000: The tax rate imposed on the net value of transfers from a deceased child twenty-one 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 zero (0) percent [72 P.S. 99116(a)(1.2)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent, except as noted in 72 P.S. ~9116(1.2) [72 PS. ~9116(a)(1)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. ~9116(a)(1.3)]. A sibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. Inheritance Tax Pennsylvania Page 1 of2 PENNSYLVANIA INHERITANCE TAX One of the fIrst questions asked by those who prepare to plan their estates is "How will my property be taxed at the time of my death?" Many are. pleased to know that they need not worry about fed~mL~~tCll~ ID1Lsince Uncle Sam imposes this levy in the year 2006 only if the estate exceeds $2 million (the federal estate tax threshold for deaths in 2005 was $1.5 million). The same, however, cannot be said of Pennsylvania inheritance tax. The Pennsylvania tax applies regardless of the size of the estate. There are, however, ways to reduce Pennsylvania's inheritance tax. But to do so, you must understand some of the ground rules. The Pennsylvania inheritance tax is technically a tax on the beneficiary's right to receive your property. The amount,of tax a beneficiary pays depends on the value of the property they receive and their relationship to you. Traditionally, the Pennsylvania inheritance tax had a two tax rates. A rate of six percent applied to assets that passed to so-called lineal descendants, such as children, grandchildren and stepchildren. A rate of 15% applied to so-called collateral beneficiaries. This included brothers, sisters, nieces and nephews and all others. Transfers to charities were exempt from tax as were assets owned by spouses with rights of survivorship. These two rates were the law until 1995 when a third rate was introduced. That third rate is a zero percent rate that applies to assets that are left to a spouse. This spousal exemption is discussed in IDlQl11ex atlicJ~. However, Governor Ridge signed a new tax act on May 24, 2000, that cuts these rates. Under the new tax act, the six percent rate is reduced to 4.5% effective for those who die after June 30, 2000. As such, if you leave your children $100,000, the tax bite will now be $4,500. That's $1,500 less than it would have been under the old law. In addition to children, this new 4.5% rate also applies to assets that are left to grandchildren, stepchildren, and parents. The new tax act also introduces a new rate for transfers to siblings. Siblings are defined to include those who have at least one parent in common with the decedent, whether by blood or adoption. Assets that pass to siblings will now be taxed at 12%. Once again this applies to decedents dying after June 30, 2000. Unfortunately, the 15% rate stays in place for things you leave to nieces and nephews and unrelated beneficiaries. The final change under the new tax act has to do with an exemption from tax that applies to assets that pass from a child to a parent. Upon the death of a child age 21 or younger, there is no longer any tax on assets that pass to that child's parent or stepparent. For many, these tax rates sound steep. Fortunately, however, the tax is not imposed on the gross value of your estate. First, when your executor or administrator prepares the tax return, they will get to deduct debts that you owed, funeral expenses and any other estate settlement costs. A $3,500 family exemption may also be available as an additional deduction. Secondly, certain property is exempt from the tax altogether. The most important exemption is for property that is owned jointly by a husband and wife. Therefore, if you and your spouse own all of your property jointly, upon death of the fIrst spouse there will be no Pennsylvania inheritance tax. As a technical matter, property owned individually by one spouse is subject to tax even thou h it asses to the survivin s use under the terms of a Will. u:;.~ever, Sfice the current tax rate on property passing to a !ljlouse is_l ,. qI1/N> ny Life insurance proceeds are also exempt from Pennsylvania inheritanc~ from many retirement plans, but you have to weave through technical I Unfortunately, it's safe to say that the Department of Revenue says tha1 http://www.estateattorney.comlpa1500.htm tv ftPD ~ )Il (). rt} l f- r-. ~ Lce :006 REV-1503 EX+ (6-. . COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE B STOCKS & BONDS ESTATE OF FILE NUMBER JANET W AtSNER G ~ fE"rJE. All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER 1. DESCRIPTION VALUE AT DATE OF DEATH ~~~~ " 10, 1tJ.+.. 32... D~ 5"- 2. 2.- 0' ~ ~ 2./00 2BJ +'~ . 23 - 'it:f 7/ ' 6 2.0. TOTAL (Also enter on line 2, Recapitulation) $ (If more space is needed. insert additional sheets of the same size) REV':.1511 EX+ (12-99) _ . . . COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS ESTATE OF FILE NUMBER JANEl WJ:lGNE:R GR~cNE Debts of decedent must be reported on Schedule I. ITEM NUMBER A. FUNERAL EXPENSES: DESCRIPTION AMOUNT 1. .B~~ V~ m~ ~ ~a,~ 'HormL ~ S~ ~~ ~ ~'1....tlV 1 w~ ~~;::::::;r;~ l~ ~~ "B~,E:.~, F"..., s~ B. 1. ADMINISTRATIVE COSTS: ., 232i.6b Personal Representative's Commissions Name of Personal Representative(s) Social Security Number(s)/EIN Number of Personal Representative(s) Street Address City State _ Zip Year(s) Commission Paid: 2. Attorney Fees 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) Claimant Street Address City State _ Zip Relationship of Claimant to Decedent 4. Probate Fees 5. Accountant's Fees 6. Tax Return Preparer's Fees 7. TOTAL (Also enter on line 9, Recapitulation) $ (If more space is needed, insert additional sheets of the same size) Image Print Page 1 of 1 0PN'C l 'I.!A$[ !'tIlD ON "'"FC....TIOIIIHtl DFl'JOI H_ t 1llI$ (MEeK 1$ PIl,IITtO ON "'l!.lIt $l(~""~L"'~ Redemption Cheek PAV TO THE OROER Of: tOY R GREENE 325 WESLEY OR APT 123 MECHANICSBURG PA 11055.~500 Elfl.ll1 Tax Elcempt IncQrne Fund 039314802 Dote' 05/22106 Accounl'.Zl00281464 23.9711020 Amount $10,844.32 Amount: Tt;N THOUSAND EIGHT HUNDRED FORTY FOUR DOLLARS ANO 321100 #If.j}-- AUTHOfU lEt> Sl ClN" y'l..IlU! --- By ~ ""~mont Sf""- j"", ,.~, Cdooado J"*'lI"" a.- ..... ""', ~r. ~ .,. 2251.08'" I: laD 2000 q 'jHi': S8000:\ Ii :I L ...80 2 SQ' ...000 LOa...... 32". Front .~-,... ":'~I .. ,.:. . _ '- -.' '-+ ~.< ,. .~ jx '" z ~ 8l I ~ ~ '" ~ i j;; ,.., ~' ~ ...1 ..... ..L 8 ~i , ..0 ~=1 II- I~ ..:: %... i .. ~ I If ~ 01 ~ .=J c:;) ~ ~1 ~..., ~ ~i 2 ~ i ~ ;1 - ."" I ..I ~i! I j i I i 1 ;~ -: - .- /''''' ....~ ~" -... ? ..- L'.. ~:;E .031 ~153" f. ~~ "":;;:., PllC IIl<<IIlXlCl At. PA !. . ~ ~a.. J:2226 A.... oJ 26(j~:; 72520 7 Back This is an image/copy of a check you wrote or deposited. Please refer to your available balance since this item may not be credited to or debited from your account at this time. https://www.eai.pncbank.comIIMGPRINT.html 6/26/2006