Currently, there are several bills floating in the state legislature to modify Pennsylvania’s Inheritance Tax.However, Rep. Valerie Gaydos wants to abolish the tax altogether and has pushed House Bill 1394 through the legislative process to land in the House Finance Committee.”You already pay taxes on this money that is yours, and then to add insult to injury, when you die, government then wants to tax that,” Gaydos said. “It’s often called a death tax, because you’re even taxed when you die.”Pennsylvania is one of only six states that still impose an inheritance tax on its residents, which starts at the first dollar, up to 15 percent.Gaydos said the tax is preventing native Pennsylvanians from returning to their home state, “Don’t want to move to Pennsylvania because that means that any of the money that I worked all my life will be taxed at a very high rate. I actually think that it would be great if our government could do anything to give taxpayers a break.”
MOON TOWNSHIP, Pa. —
Currently, there are several bills floating in the state legislature to modify Pennsylvania’s Inheritance Tax.
However, Rep. Valerie Gaydos wants to abolish the tax altogether and has pushed House Bill 1394 through the legislative process to land in the House Finance Committee.
“You already pay taxes on this money that is yours, and then to add insult to injury, when you die, government then wants to tax that,” Gaydos said. “It’s often called a death tax, because you’re even taxed when you die.”
Pennsylvania is one of only six states that still impose an inheritance tax on its residents, which starts at the first dollar, up to 15 percent.
Gaydos said the tax is preventing native Pennsylvanians from returning to their home state, “Don’t want to move to Pennsylvania because that means that any of the money that I worked all my life will be taxed at a very high rate. I actually think that it would be great if our government could do anything to give taxpayers a break.”