Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Tuesday, October 6, 2015

Scaife Estate Claims To Have Overpaid State Estate Tax By $10 Million

Richard-ScaifeI have previously discussed the dispute over the estate of the late Tribune-Review Publisher Richard Scaife.  The Estate has filed a tax return with the State of Pennsylvania claiming that the estate overpaid the State's estate tax by $10 million.  According to accountants for the estate the tax payments amounted to $104.7 million, but that a year-long review that they did on the estate shows that they should have only paid $94.5 million.  This current estate tax dispute is separate from many of the other legal actions that the Scaife estate is involved in.  The Scaife estate was worth about $830 million and about according to the tax return about $630 of that was subject to tax.  Because of the large size of this estate there will likely be more future developments to this story.  

See Mike Wereschagin, Scaife estate overpaid state taxes by $10M, return filed Monday states, Trib Live News, October 5, 2015. 

 

 

https://lawprofessors.typepad.com/trusts_estates_prof/2015/10/scaife-estate-claims-to-have-overpaid-state-estate-tax-by-10-million.html

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