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

There is no federal inheritance tax, so your cash inheritance will likely not be considered taxable income.

From MarketWatch • Jun. 17, 2026

His tenure has been marked by numerous U-turns on issues big and small, from whether to issue national ID cards to an inheritance tax on farmers.

From The Wall Street Journal • May 8, 2026

Samsung confirmed on Sunday that the final payment had been made, noting that the sum is equivalent to roughly one and a half times the country's total inheritance tax revenue for 2024.

From BBC • May 4, 2026

Not only does Florida not have a state income tax, it doesn’t have an estate tax or an inheritance tax.

From Barron's • Apr. 20, 2026

Not separable from it is the President's proposal to put upon these huge accretions a decent inheritance tax.

From The Conflict between Private Monopoly and Good Citizenship by Brooks, John Graham

Related Words

• death tax
• estate tax