Notices of Increased Real Estate Tax Assessments in the City of Philadelphia The Office of Property Assessment, starting in April, has sent owners of commercial and industrial properties in Philadelphia notices of reassessment of property values. This involved a thorough analysis of some of Philadelphia’s most complex and high-valued parcels, […]
On October 14, 2016, Governor Christie signed a new law that will eliminate the New Jersey estate tax. Currently, decedents residing in New Jersey with taxable estates exceeding $675,000 may be subject to New Jersey estate tax. With the new law, New Jersey residents who die during 2017 will not […]
In a recent Pennsylvania Supreme Court case, the court upheld the Commonwealth court’s decision that nonresident limited partners, in a partnership with the sole purpose of investing in property located in Pennsylvania, are responsible for Pennsylvania income taxes on their share of income from a discharge of debt as a […]
Pennsylvania does not charge an estate tax. However, Pennsylvania is one of the few states that impose an inheritance tax on property owned by a resident of Pennsylvania, and certain property located in Pennsylvania owned by a nonresident. This is different in other locations of course. If you are from […]