gift tax

noun

1. a tax imposed on the transfer of money or property from one living person to another by gift, payable by the donor.

gift tax

noun

1. another name for (the former) capital transfer tax

Example Sentences

Another way married people can benefit from 529 plan tax benefits is with the federal gift tax exclusion.

From Seattle Times

In 2020, a law firm found that Mr. Epstein’s work had saved Mr. Black and his four children $2 billion in estate and gift taxes.

From New York Times

The result is a situation where, counterintuitively, the gift tax can be easier to avoid the richer the host is.

From Salon

"This argument is, on its face, a joke," said Wyden, arguing that Congress "needs to evaluate compliance with the gift tax" and strongly consider "stiffening reporting requirements for gifts given to public officials."

From Salon

While there are exemptions from the gift tax for certain payments, Wyden noted, "none of these exemptions appear to apply to any gifts you made to Justice Thomas."

From Salon