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.
- Compare estate tax.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
How to use inheritance tax in a sentence
Despite the settlement and a hefty state inheritance tax bill, there still was plenty of money for Scaife’s anti-tax causes.The Great Inheritors: How Three Families Shielded Their Fortunes From Taxes for Generations | by Patricia Callahan, James Bandler, Justin Elliott, Doris Burke and Jeff Ernsthausen | December 15, 2021 | ProPublica
Or imposing an inheritance tax, which means most apartments will no longer pass to children without probate.
She left an estate of £12,966,022 after inheritance tax of £8,502,330 was deducted.William Entitled to £10m from Diana's Will Next Month | Tom Sykes | May 14, 2012 | 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.The Book of Life: Vol. I Mind and Body; Vol. II Love and Society | Upton Sinclair
Not separable from it is the President's proposal to put upon these huge accretions a decent inheritance tax.The Conflict between Private Monopoly and Good Citizenship | John Graham Brooks
The parties in possession of the government had proposed a graduated inheritance tax, which nearly all Socialists approve.Socialism As It Is | William English Walling
The federal government should enact a progressive inheritance tax.Elements of Debating | Leverett S. Lyon
There should be a progressive inheritance tax on large fortunes.State of the Union Addresses of Theodore Roosevelt | Theodore Roosevelt
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
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012