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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Compare estate tax.
Origin of inheritance tax
First recorded in 1835–45
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
British Dictionary definitions for inheritance tax
(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
(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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