Recent Examples of estate tax from the Web
The plan also doubles the limit on the dreaded estate tax to $10 million and phases out the entire tax over six years.
The death of estate taxes Winners: Wealthy families and their heirs, particularly those who haven't made any estate plans.
At the moment, only estates worth over $4.49 million faced the estate tax.
Republicans in Congress, having convinced themselves that repealing the estate tax and enriching corporations is the key to America’s heart, are now sweating the gory details of their trillion-dollar giveaway.
Again, the question must be asked of the soulless drones of the Republican Party elite: Is getting rid of the estate tax and shoving more of the nation's wealth upwards really worth putting up with this?
Estates below that threshold pay no federal estate tax.
Grisales-Racini’s practice is concentrated on domestic, inbound and outbound international tax planning, corporate, trusts and estate tax planning issues, cross-border mergers and acquisitions, transfer pricing, and EU law.
Lowering the estate tax, on the other hand, has no rational justification and could even be increased.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'estate tax.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
First Known Use of estate tax
Financial Definition of ESTATE TAX
What It Is
An estate tax is levied on assets inherited by the heirs to a deceased person's estate.
How It Works
The estate tax is applied differently according to U.S. Federal and state laws as well as international law. Typically, estate taxes are only levied once a certain threshold, known as the exclusion limit, has been reached.
Estate taxes are not applicable if a person bequeaths (transfers) the assets from the estate to a living spouse. This type of transfer is known as the unlimited marital deduction. However, in the event that the spouse dies, the beneficiaries may be required to pay estate taxes if the exclusion limit is exceeded.
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Why It Matters
Estate taxes, like other taxes on unearned incomes, are a source of revenue for governments that use it to finance various projects. The issue of the estate tax has become highly politicized, and it is sometimes referred to as the "death tax" by people who oppose it.
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ESTATE TAX Defined for English Language Learners
Definition of estate tax for English Language Learners
: a tax that you pay on the money and other property that comes to you because someone has died : a tax on an estate that you inherit
legal Definition of estate tax
Seen and Heard
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