inheritance tax

noun

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 half of the world’s billionaires live in countries with no inheritance tax on money given to children, according to a 2023 report from Oxfam. Alicia Adamczyk, Fortune, 6 Feb. 2024 There were large inheritance tax payments and loans against their LG shares that didn’t comport with their understanding that Kwang-mo alone would shoulder the tax. Victoria Kim, New York Times, 18 Dec. 2023 That is unlikely to be the case for most of their offspring, who will also probably avoid paying inheritance tax. Byryan Hogg, Fortune Europe, 30 Nov. 2023 As a result, revenues from the inheritance tax are also minuscule. Byprarthana Prakash, Fortune, 27 Sep. 2023 Other ideas being floated include the abolition of inheritance tax, a policy that has long been favored on the right of the Conservative Party. Stephen Castle, New York Times, 1 Oct. 2023 This means that the king inherited all of the queen's massive wealth directly—without paying a shilling of inheritance tax. Olivia Evans, Women's Health, 6 May 2023 And Charles won’t have to pay a shilling of inheritance tax, thanks to a 1993 agreement with the British government that exempts transfers of property from one sovereign to another. Giacomo Tognini, Forbes, 4 May 2023 The best way to avoid the inheritance tax is to manage assets before death. Medora Lee, USA TODAY, 20 Feb. 2023 See More

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'inheritance tax.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1841, in the meaning defined at sense 1

Time Traveler
The first known use of inheritance tax was in 1841

Dictionary Entries Near inheritance tax

Cite this Entry

“Inheritance tax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/inheritance%20tax. Accessed 26 Feb. 2024.

Legal Definition

inheritance tax

noun
: 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

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