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gift tax

noun
1.
a tax imposed on the transfer of money or property from one living person to another by gift, payable by the donor.
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples from the web for gift tax
  • Any appreciation is not subject to estate or gift tax.
  • The estate and gift tax would be abolished, and there would be no taxation of dividends and capital gains.
  • Also no deduction for charity, offset by the end of gift tax.
  • The gift tax applies to transfers by gift of property.
  • The gift tax is a tax on the transfer of property the transfer to be a gift or not.
  • The gift tax is a tax on the transfer of property less than full value, in return.
  • Gifts that are direct skips and are subject to both gift tax and generation-skipping transfer tax.
  • If you give someone money or property during your life, you may be subject to federal gift tax.
  • Net gift tax--This is the reported value of gift tax on current period gifts.
  • If you give someone money or property during your life, you may be subject to the federal gift tax.
British Dictionary definitions for gift tax

gift tax

noun
1.
another name for (the former) capital transfer tax
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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Encyclopedia Article for gift tax

a levy imposed on gratuitous transfers of property-i.e., those made without compensation. Provisions for such taxes are common in national tax systems

Learn more about gift tax with a free trial on Britannica.com
Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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