estate tax

noun

1. a tax imposed on a decedent's property, assessed on the gross estate prior to distribution to the heirs.

Word History and Origins

Origin of estate tax¹

First recorded in 1905–10

Example Sentences

Estate taxes: Any estate taxes or overdue taxes would come out of your father’s estate, and it is his current wife’s responsibility, not yours, to settle his estate.

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The top 99.8% of the wealthiest families in America stand to receive many more millions of untaxed dollars because of an increase in the estate tax exemption.

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Texas, in addition to having no personal income tax or estate tax, has a $7.25 minimum wage and a right-to-work law.

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The single most indefensible component of the tax bill congressional Republicans are trying to renew is a cut in the estate tax.

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This means those assets can be exempt from estate taxes, which can range from 18% to 40% of the estate’s value.

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Related Words

• death tax 
• inheritance tax