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inheritance tax

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 of inheritance tax
1835-45 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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British Dictionary definitions for inheritance-tax

inheritance tax

(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
(in the US) a state tax imposed on an inheritance according to its size and the relationship of the beneficiary to the deceased
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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