Pennsylvania legislation · 2025-2026 Regular Session
Pennsylvania HB1555: An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in inheritance tax, further providing for payment date and discount.
Status: In committee, June 4, 2025
What the bill says
An act relating to tax reform and State taxation by codifying and enumerating certain subjects of taxation and imposing taxes thereon; providing procedures for the payment, collection, administration and enforcement thereof; providing for tax credits in certain cases; conferring powers and imposing duties upon the Department of Revenue, certain employers, fiduciaries, individuals, persons, corporations and other entities; prescribing crimes, offenses and penalties," in inheritance tax, further providing for payment date and discount.
From the introduced text, June 4, 2025:
An act relating to tax reform and State taxation by codifying and enumerating certain subjects of taxation and imposing taxes thereon; providing procedures for the payment, collection, administration and enforcement thereof; providing for tax credits in certain cases; conferring powers and imposing duties upon the Department of Revenue, certain employers, fiduciaries, individuals, persons, corporations and other entities; prescribing crimes, offenses and penalties," in inheritance tax, further providing for payment date and discount. The General Assembly of the Commonwealth of Pennsylvania hereby enacts as follows: Section 1. Section 2142 of the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, is amended to read: Section 2142. Payment Date and Discount.--Inheritance tax is due at the date of the decedent's death and shall become delinquent at the expiration of nine months after the decedent's death. To the extent that the inheritance tax is paid within three months after [the death of the decedent] the issuance of the notice under section 2140, a discount of five per cent shall be allowed. Section 2. This act shall apply to tax years after December 31, 2026. Section 3. This act shall take effect immediately. 20250HB1555PN1838 - 2 -
Sponsors
- Russ Diamond (R, 102) · primary sponsor