Estate of Miller

This appeal involves the valuation, for Pennsylvania inheritance tax purposes, of future interests upon which inheritance tax is prepaid under Section 714(a) of the Inheritance and Estate Tax Act of 1961, Act of June 15, 1961, P.L. 373, Art. VII, § 714(a), as amended, 72 P.S. § 2485-714(a) (Supp.1975) [hereinafter the Act of 1961]. The question for decision is whether, in computing the value of such a future interest, the amount of federal and state death taxes on prior interests paid out of the corpus of the estate is to be included in the valuation of the future interest. The majority of…