inheritance tax
Americannoun
noun
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(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
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(in the US) a state tax imposed on an inheritance according to its size and the relationship of the beneficiary to the deceased
Etymology
Origin of inheritance tax
First recorded in 1835–45
Example Sentences
Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.
The money is not currently in a bank account and it is not part of an estate — let’s assume it’s just cash in an envelope — and I live in a state with no inheritance tax.
From MarketWatch
Tuesday's NFU conference was the first to be held since its abrupt closure, in addition to Labour's partial U-turn on farm inheritance tax proposals.
From BBC
How do I prevent my son from being hit with inheritance tax?
From MarketWatch
A handful of U.S. states impose an inheritance tax on certain inherited assets, though most offer exemptions or reduced rates for close relatives like children and spouses.
From MarketWatch
Wyoming was No. 1 largely because of its low cost of living, no estate or inheritance taxes and a low violent-crime rate.
From MarketWatch
Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.
