i had some questions:
1-between nonparent relationship (i’m iinheriting some things from a great aunt) what is the inheritance tax rate?
2-what is covered in the tax? like items (car, jewelry etc.), money (cash, CD’s, stocks and bonds) property (house and garage, acres of land), and anything else.
3-if there’s one fixed percentage (like say 15%) is it fixed on everything or is it broken down into specific catagories?
ordinarily inheritance is not taxable but some states do charge, you probably need to go to the PA state web site to see what qualifies
It looks like there is a 15% Inheritance Tax in Pennsylvania for a non lineal heir (grandparent, parent, child are lineal heirs) but the Inheritance Tax in Pennsylvania is extremely complicated. You should see a CPA who is very familiar with Pennsylvania Tax Law. In the meantime, I would set aside 15% for the taxes just to be on the safe side.