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 ?
Although, the actual amount of real estate taxation applied today is minimal and not quite adequate, it is impossible to ignore the social status of property owners, which is the vast majority of citizens.
Laura Jackson specializes in the REIT and partnership area of real estate taxation, providing expertise in due diligence, structuring, REIT compliance, [section]754 adjustments and partnership taxation.
With the threshold for federal estate taxation now at $11.2 million for individuals and $22.4 million for married couples, federal estate taxation now only applies to less than 0.1 percent of the population.
The Ministry of Finance is working on some amendments to the real estate tax law including cancellation of the Real Estate Taxation Authority's (RTA) right to appeal the rental value evaluation reached by assessment and inventory committees, Head of the RTA Samia Hassan said on Tuesday.
Among them are: Deputy Housing Minister for National Projects Khaled Abbas; Chairman of the Tourism Development Authority Serag El Din Saad; Chairwoman of the Real Estate Taxation Authority Samia Hussein; and Chairman of the General Authority for Investment Mohsen Adel.
The Center for Global Best Practices invites landowners and administrators, businesses, accountants, lawyers and even LGU officials in a one-day pioneering program titled, 'Local Government and Real Estate Taxation,' on Aug.
The typical approach has been the insertion of a foreign corporation as wholly owned by the trust to retain assets otherwise classified as U.S.-situs property for estate taxation. (2) The result is to transform the U.S.-situs into foreign-situs property such that exposure to the estate tax is avoided on the grantor's demise.
has more than 22 years of experience in the area of real estate law, focusing on land use, land development and zoning; real estate taxation; real estate transactions; real estate title issues; eminent domain; real estate valuation; and real estate code compliance.
Using careful drafting techniques, such a transfer could cause the asset to be included in such a family member's estate, thereby permitting a step-up in basis without resulting in estate taxation.
It is estimated that now only about 1,800 estates, annually, will be subject to federal estate taxation.
Below is a brief discussion of the changes under estate taxation under the Train law.