inheritance tax

noun

Definition of inheritance tax

1 : a tax on a decedent's net estate that is levied after the estate is transmitted to the inheritors
2 : death tax especially : estate tax

Examples of inheritance tax in a Sentence

Recent Examples on the Web And this year Nebraska legislators made pro-taxpayer tweaks to its inheritance tax for deaths occurring on or after January 1, 2023. Ashlea Ebeling, Forbes, 13 May 2022 And the inheritance tax phase-out continued to expand. Keith M. Phaneuf, Hartford Courant, 13 May 2022 That creativity could arrive in the form of a property gains tax or inheritance tax — neither of which Singapore has — according to Ravi Menon, managing director of the Monetary Authority of Singapore. Nana Ama Sarfo, Forbes, 15 Nov. 2021 Despite the settlement and a hefty state inheritance tax bill, there still was plenty of money for Scaife’s anti-tax causes. Patricia Callahan, ProPublica, 15 Dec. 2021 After Rodolfo's death in the early ’80s, Aldo accused Maurizio of forging his father's signature on share certificates to avoid paying inheritance tax. Patrick Ryan, USA TODAY, 27 Nov. 2021 That means no property tax, no income tax, no capital gains tax and no inheritance tax—no local taxes whatsoever. Howard Walker, Robb Report, 23 Nov. 2021 That change turned the state — which has no income tax, no inheritance tax and no capital gains tax — into an attractive destination for family money. Irina Ivanova, CBS News, 5 Oct. 2021 Making this state even more budget-friendly, there is no sales tax, estate tax, or inheritance tax. Mia Taylor, Better Homes & Gardens, 24 Sep. 2021 See More

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'inheritance tax.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of inheritance tax

1841, in the meaning defined at sense 1

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Time Traveler for inheritance tax

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The first known use of inheritance tax was in 1841

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Dictionary Entries Near inheritance tax

inheritance

inheritance tax

inhesion

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Statistics for inheritance tax

Last Updated

20 Jun 2022

Cite this Entry

“Inheritance tax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/inheritance%20tax. Accessed 26 Jun. 2022.

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More Definitions for inheritance tax

inheritance tax

noun

Legal Definition of inheritance tax

: an excise tax that is levied upon the privilege of receiving property as heir or next of kin under the law of intestacy and that is measured by the value of the property received — compare estate tax

More from Merriam-Webster on inheritance tax

Thesaurus: All synonyms and antonyms for inheritance tax

Britannica.com: Encyclopedia article about inheritance tax

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