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Panel hears bill to allow low-income heirs to pay inheritance tax in installments
Summary
Delegate John Carden told the Ways and Means Committee HB 98 would let low-income beneficiaries of a primary residence left by non-immediate relatives enter installment plans through the register of wills to pay inheritance tax; members asked about liens, eligibility and timeframes.
Delegate John Carden asked the Ways and Means Committee on Jan. 20 to give a favorable report to House Bill 98, a measure that would allow certain heirs of limited means to pay inheritance taxes on a primary residence over time.
The bill, Carden said, "gives people of limited means the option to be able to basically get on a payment plan to pay the the inheritance tax over time." He told the committee the measure was narrowed over several years and that the fiscal note shows no net…
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