Committee Approves Tax Easing Legislation
Rep. Causer
The House Finance Committee approved legislation this week aimed at easing the tax burden on Pennsylvania small business owners.
House Bill 48 would eliminate the Pennsylvania inheritance tax on assets of family-owned business enterprises transferred upon death to other family members. People who inherit a family business are sometimes forced to sell it off because of the substantial inheritance tax burden, and this law would help keep that from happening.
This is an important step in our ongoing efforts to promote the creation and retention of jobs and to make the Commonwealth more business friendly.
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5 comments:
All Taxes should be eliminated upon a death of a family member. Often the family home and posessions have to be sold off to pay these extreme taxes. I say do away with all Death Taxes. Just wish someone would listen to us, the little tax payers of this land.
What about on other property why should the family have to pay high inheritance tax on parents homes and farms . They pay morgages-real estate taxes all their life and family has to pay almost half the value to keep it... Talk about taxation on taxation...You need to summit a Bill excempting PA. from b husseins o's 55% inheritance tax he is going to sign. Families are already struggling to keep their own so they will lose it to the gov.. and most likely it will go to China like all the forclosed property. Very SAD time we live in..
Very sad time we live in???
We've had inheritance taxes for a very long time.
If obama and his merry band of thieves get their way no one will be able to inherit anything !
thats why u need more then 1 persons name on everything
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