taxable termination

noun

Legal Definition of taxable termination 

: a generation-skipping transfer of property held in trust that is subject to a generation-skipping transfer tax payable by the trustee when an interest in the property terminates (as at the death of the parent of a skip person), no interest is held by one who is not a skip person, and a distribution to a skip person may be made — compare direct skip, taxable distribution

Learn More about taxable termination

Share taxable termination

Comments on taxable termination

What made you want to look up taxable termination? Please tell us where you read or heard it (including the quote, if possible).

WORD OF THE DAY

amusing and light sparring with words

Get Word of the Day daily email!

Test Your Vocabulary

Late Autumn 2018 Words of the Day Quiz

  • frosted-autumn-leaves
  • Which is a synonym of yahoo?
How Strong Is Your Vocabulary?

Test your vocabulary with our 10-question quiz!

TAKE THE QUIZ
SCRABBLE® Sprint

Test Your Knowledge - and learn some interesting things along the way.

TAKE THE QUIZ

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!