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

Over Mellon’s objections, Congress had passed a gift tax and the so-called publicity amendment, which authorized the release of the names of taxpayers and the amount of income tax they paid.

From ProPublica

Lawmakers later added a gift tax as a means of stopping wealthy people from passing their fortunes on to their children and grandchildren before death.

From ProPublica

There are important and time sensitive issues which could substantially impact the amount of wealth you are able to transfer free of estate and gift tax to future generations.

From ProPublica

The GRAT is “the perfect loophole to avoid estate and gift tax in this situation,” said Lord, who is also tax counsel for Americans for Tax Fairness and an advocate for estate tax reform.

From ProPublica

Another proposal—pushed by Senator Maria Cantwell (D-WA)—would apply a gift tax to contributions to 501(c)(4)s.

From The Daily Beast