inheritance

PMA Bulletin -- July 31, 2013

Death to the Death Tax!

Despite grumbling over what didn’t happen this past June, there is at least one major accomplishment that deserves more attention. In the tax code enacted with the General Fund budget, the General Assembly eliminated the inheritance tax -- more appropriately the “death tax” -- levied on a business when sons, daughters, or other family heirs take leadership of it upon the death of the owner.