On June 28, 2019, Pennsylvania Governor Tom Wolf approved HB 262, which effectively reduces the inheritance tax rate to 0% so long as the property is transferred from a parent — whether natural, adoptive, or step — or transferred for the benefit of a child age 21 or under. Presumably, reporting requirements will remain the same. The reduced tax rate is effective beginning on Monday, July 1, 2019.
Whitworth: PA Inheritance Tax Rate Reduced to 0% for Parent to Child 21 and Under
