Scaife’s estate pays $100M inheritance tax
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PITTSBURGH (AP) – The estate of the billionaire banking heir who published the Pittsburgh Tribune-Review paid a record $100 million in inheritance taxes to the state of Pennsylvania.
Representatives for the estate of Richard Mellon Scaife made the payment Friday.
Estate lawyer Yale Gutnick told the Tribune-Review it’s the first of several estimated tax payments to be made until the final inheritance tax bill is calculated. The final value of the estate has not been set.
Department of Revenue spokeswoman Elizabeth Brassell said the previous record inheritance tax payment was about $20 million.
Scaife died July 4, a day after his 82nd birthday.