inheritance tax

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inheritance tax

n.
A tax imposed on the privilege of taking property by inheritance or the right of receiving property by will, and assessed on the value of the property.

inheritance tax

n
1. (Government, Politics & Diplomacy) (in Britain) a tax introduced in 1986 to replace capital transfer tax, consisting of a percentage levied on that part of an inheritance exceeding a specified allowance, and scaled charges on gifts made within seven years of death
2. (Government, Politics & Diplomacy) (in the US) a state tax imposed on an inheritance according to its size and the relationship of the beneficiary to the deceased

inher′itance tax`


n.
a tax levied on the value of property bequeathed to an heir.
Also called death tax; Brit., death duty.
[1835]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.inheritance tax - a tax on the estate of the deceased person
transfer tax - any tax levied on the passing of title to property
References in periodicals archive ?
The law states in Article 2 that the one that should pay the tax is the owner of the real estate, or the one who has the right to use it, whether he is a regular or legal person," said Samia Hussein, Head of the Real Estate Taxation Authority (RTA).
Further, such assets held until the owner's passing[if an individual] will be revalued at that time for estate taxation only.
The protocol aims to regulate using 50 % of real estate taxation returns to develop slums and governorates.
New fall non-credit courses include Analyzing Real Estate Investment Trusts (REITs) (online course); Construction Project Management Leadership and Communication (on-site course); Hotel Investment Analysis and Valuation (online course); Real Estate Investment Syndication (online course); Real Estate Portfolio Management (online course); Real Estate Taxation (online course); Tri-State Real Estate Market Trends (on-site course).
The concept of portability in estate taxation has been made permanent, and this is an estate-planning perk your attorney or tax expert can explain in detail.
HOWEVER, there may still be the need for patent valuations: Potential sale of the business, potential purchase of another business with self-developed patents, actual sale or purchase of a self-developed patent, divorce actions, estate taxation, gifting, bankruptcy actions, and tort actions are such examples.
The cash-strapped government has proposed a major restructuring of the real estate taxation system, with forthcoming property taxes based on today's market values.
2) Risks of an ambiguous domicile include competing probate proceedings after death (3) and state income and estate taxation claims made by the non-Florida jurisdiction.
Several studies were conducted and it was determined that real estate taxation was contributing to the decline in the number of farms.
government has not been particularly concerned with Hollywood nobility, perhaps because of strong estate taxation.
Because the Tax Policy Center estimates revenue of $410 billion if the excludable amount is returned to $1 million, many estate taxation attorneys suggest that prudent planning will use the estate tax reversion level of $1 million.
Or, is it better to fund the credit shelter trust with only $2 million, thereby avoiding immediate Illinois estate taxation at the cost of not fully using the $3.