unified transfer tax

noun

Legal Definition of unified transfer tax

: a tax imposed under the Internal Revenue Code on the cumulative total of gifts made over a certain amount by a person during his or her lifetime and on transfers at death

called also unified estate and gift tax

— see also unified credit

Learn More About unified transfer tax

Cite this Entry

“Unified transfer tax.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/unified%20transfer%20tax. Accessed 24 Jun. 2021.

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