Computing PA Real Estate Transfer Tax on CRT remainder interest

Computing PA Real Estate Transfer Tax on CRT remainder interest

Forum topic posted in Forum on 17 August 2015| comments
audience: | last updated: 17 August 2015
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Pennsylvania client gifts real estate to a CRT.  The PV of the remainder interest to charity is 15%.  Pennsylvania real estate transfer tax is usually 2% of the FMV of the property,  Since the client is retaining an 85% interrest, shouldn't the transfer tax be 15% of 2%, which is 0.3%?

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7520 Rates: November 2.4% October 2.2% September 2.4%

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