estate tax

(redirected from Estate taxes)
Also found in: Thesaurus, Legal, Financial, Encyclopedia.
Related to Estate taxes: State estate tax

estate tax

n.
A tax imposed on the right to transfer property by inheritance and assessed on the net value of a decedent's estate before distribution to the heirs.

estate′ tax`


n.
a tax imposed on the net worth of a decedent's property prior to distribution to the heirs. Also called death tax.
[1905–10]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.estate 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 Economic Growth & Reconciliation Act of 2001 was passed by Congress as a method to gradually reduce estate taxes.
3) Prior to that time, Illinois was peaceably engaged in a form of revenue sharing with the federal government, whereby Illinois estate taxes were based on the state death credit (the "2011 credit" computed under section 2011 of the Internal revenue Code ("Code")).
The federal estate tax has been around since 1916, after making brief appearances in the 19th century to raise emergency revenue In 1976, the gift and estate taxes were unified, and the generation-skipping transfer (CSF) tax--which taxes lifetime and at-death transfers to people more than one generation away from you (for example, a grandchild)--was introduced.
According to the just-released Studley Effective Rent Index (SERI) covering midtown and downtown, midtown's spike in rental rates is due to a number of real estate components impacting pricing, namely higher real estate taxes, operating expenses and electricity costs, not to mention supply and demand.
IRC section 216, however, allows tenant-stockholders to deduct a proportionate share of real estate taxes paid by a cooperative housing corporation (coop).
to pay for the back surgery of the decedent's nurse; the decedent's funeral and estate administration expenses, debts, nursing services before the decedent died, a specific bequest under the decedent's will; and estate taxes of approximately $3 million).
On their 2001 joint return, they deducted their proportionate share ($10,489) of the housing corporation's real estate taxes from their adjusted gross income.
No one knows what the future holds for estate taxes in the United States, but that uncertainty didn't stop insurers last year from dramatically increasing their sales of survivorship life products, the kind of insurance best suited for estate planning.
My children might have to break up the tree farm or sell off timber to pay the estate taxes when I die.
5 million in 2009, then climinates estate taxes altogether in 2010 only to return them in 2011 to the 2001 levels--a 55 percent tax rate and $1 million exemption.
The credit for prior transfers allows the personal representative to claim a credit against the decedent's federal estate tax liability for federal estate taxes which were paid in another estate in which the current decedent was a beneficiary.