Introduction to Estate Taxes in Pennsylvania Estate taxes are levies imposed on the net value of an individual’s estate upon their death. In Pennsylvania, the estate tax is assessed on the gross value of all property owned by the decedent, including real estate, personal property, and other assets, minus any applicable deductions. This tax is … Read more
Understanding Estate Taxes in Ohio Estate taxes are levies imposed on the transfer of the estate of a deceased person. In Ohio, estate taxes are distinct from inheritance taxes, which are levied on the beneficiaries receiving the assets. While Ohio does not currently impose a state estate tax as of 2013, it is imperative to … Read more
Introduction to Estate Taxes Estate taxes, often referred to as inheritance or death taxes, are levies imposed on the estate of a deceased individual before assets are transferred to their heirs. The primary purpose of estate taxes is to generate revenue for the government while ensuring a fair taxation system relative to an individual’s wealth. … Read more