inheritance tax

American  

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.

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inheritance tax British  

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

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Etymology

Origin of inheritance tax

First recorded in 1835–45

Example Sentences

See Examples For:

inheritance tax

Turkey in June introduced a 20-year tax exemption on certain foreign-sourced income for new residents and a reduced inheritance tax.

From The Wall Street Journal ● Sep. 4, 2026

Reform has previously said it wanted to cut inheritance tax but Jenrick suggested that would not be a priority, arguing relatively few people were affected by it.

From BBC ● Sep. 3, 2026

The surviving co-habiting partner would still have to pay inheritance tax of 40% for anything above £325,000 - married partners are exempt from this.

From BBC ● Jul. 4, 2026

For the few states that do levy an inheritance tax can range from 4.5% to 15%.

From MarketWatch ● Jun. 24, 2026

Well, anyhow, if it is, we won't have to pay that inheritance tax.

From Oh, Money! Money! by Eleanor H. (Eleanor Hodgman) Porter

Related Words

• death tax
• estate tax