Subchapter D. PAYMENT OF TAX


93.121.    Election to prepay tax on future interest.


   The provisions of this Subchapter D issued under the Inheritance and Estate Tax Act of 1961 (72 P. S. §  2485-104)(Repealed), unless otherwise noted.

§ 93.121. Election to prepay tax on future interest.

 (a)  Scope and application. This section establishes rules relating to the prepayment of inheritance tax on a future interest where the future interest will vest in more than one person but where the persons do not desire to prepay.

 (b)  Election to prepay.

   (1)  When there is more than one person in whom a future interest will vest in possession and enjoyment, an election to have the value of the future interest determined as of the date of the election and to prepay the tax under section 714 of the act (72 P. S. §  2485-714)(Repealed) may be made by a fiduciary or a party in interest with respect to the particular interest of a person.

   (2)  An election to prepay and payment of tax upon a particular interest of a person shall be effective only with respect to the tax upon the transfer to that person.


   The provisions of this §  93.121 adopted January 7, 1983, effective January 8, 1983, 13 Pa.B. 158.

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