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PA HB1555
Bill
Status
Introduced
6/4/2025
Primary Sponsor
Russ Diamond
Click for details
AI Summary
- Amends Section 2142 of the Tax Reform Code of 1971 to change when the 5% inheritance tax discount period begins
- Currently, the 3-month window for the 5% early payment discount starts from the date of the decedent's death
- Changes the discount period to begin from the issuance of the official tax notice under section 2140, rather than from the death date
- Inheritance tax remains due at death and becomes delinquent 9 months after death (unchanged)
- Applies to tax years after December 31, 2026, and takes effect immediately upon enactment
Legislative Description
In inheritance tax, further providing for payment date and discount.
Last Action
Referred to Finance
6/4/2025
Committee Referrals
Finance6/4/2025
Full Bill Text
No bill text available