inheritance tax

noun

1. a tax levied on the right of an heir to receive a decedent's property, the rate being a percentage of the value of the property.

inheritance tax

noun

1. (in Britain) a tax introduced in 1986 to replace capital transfer tax, consisting of a percentage levied on that part of an inheritance exceeding a specified allowance, and scaled charges on gifts made within seven years of death
2. (in the US) a state tax imposed on an inheritance according to its size and the relationship of the beneficiary to the deceased

Word History and Origins

Origin of inheritance tax¹

First recorded in 1835–45

Example Sentences

Despite the settlement and a hefty state inheritance tax bill, there still was plenty of money for Scaife’s anti-tax causes.

From ProPublica

Or imposing an inheritance tax, which means most apartments will no longer pass to children without probate.

From The Daily Beast

She left an estate of £12,966,022 after inheritance tax of £8,502,330 was deducted.

From The Daily Beast

Now, of course, I know perfectly well that the rich man dodges most of his income tax and most of his inheritance tax.

From Project Gutenberg

Not separable from it is the President's proposal to put upon these huge accretions a decent inheritance tax.

From Project Gutenberg

The parties in possession of the government had proposed a graduated inheritance tax, which nearly all Socialists approve.

From Project Gutenberg

The federal government should enact a progressive inheritance tax.

From Project Gutenberg

There should be a progressive inheritance tax on large fortunes.

From Project Gutenberg

Related Words

• death tax
• estate tax