inheritance tax

noun
1.
a tax levied on the right of an heir to receive a decedent's property, the rate being a percentage of the value of the property.
Also called death tax; British, death duty.
Compare estate tax.
Origin
1835–45
Example Sentences for inheritance tax
He has also spoken out on major policy issues, for example, by opposing proposals to cut back the inheritance tax.
Among them is the proposed repeal of the inheritance tax on large estates.
He favours inheritance tax and gives money to such causes as birth control and anti-nuclear campaigning.
It is likely that such taxpayers also pay a big proportion of stamp duty, capital-gains tax and inheritance tax.
Perhaps the inheritance tax should not be totally abolished.
He has championed a flat income tax and the abolition of the inheritance tax.
British Dictionary definitions for inheritance tax
inheritance tax
 
n
1.  (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.  (in the US) a state tax imposed on an inheritance according to its size and the relationship of the beneficiary to the deceased

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