McNees Insights - Asset Planning & Federal Taxation -- Summer 2013

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In This Issue:

Qualified Family Business Exemption for Inheritance Tax; 3.8% Medicare Tax on Net Investment Income; and Payable on Death Accounts – Pros and Cons.

Excerpt from Qualified Family Business Exemption for Inheritance Tax -

The Pennsylvania Inheritance Tax Act was amended recently to exempt interests in a “qualified family-owned business” from the Inheritance Tax. The goal of this exemption is to preserve certain family-owned business enterprises in the event of the death of the owner. Although the exemption makes for a good sound bite, it will have limited application for business succession planning.

Please see full issue below for more information.

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Topics:  Estate Planning, Estate Tax

Published In: Business Organization Updates, Tax Updates, Wills, Trusts, & Estate Planning Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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