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estate tax
(redirected from Estate taxes)

    Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia 0.01 sec.
estate tax: see inheritance tax inheritance tax, assessment made on the portion of an estate received by an individual; it differs from an

estate tax, which is a tax levied on an entire estate before it is distributed to individuals.
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estate tax

Levy on the value of property changing hands at the death of the owner, fixed mainly by reference to its total value. Estate tax is generally applied only to estates whose value exceeds a set amount, and it is applied at graduated rates. An estate tax was first instituted in the U.S. in 1898 to help finance the Spanish-American War; it was repealed in 1902 but permanently reimposed in 1916, initially to help finance mobilization for World War I. Methods of avoiding estate tax (e.g., gifts and trust funds) were largely foiled by the U.S. Tax Reform Act of 1976.
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However, if the policy was owned in the name of the insured or deceased individual at the time that he dies, then the proceeds fall subject to estate taxes.
Last Will and Testament Knowing when You Need An Estate Plan by Lorabella / Law community
The federal estate tax has been around since 1916, after making brief appearances in the 19th century to raise emergency revenue In 1976, the gift and estate taxes were unified, and the generation-skipping transfer (CSF) tax--which taxes lifetime and at-death transfers to people more than one generation away from you (for example, a grandchild)--was introduced.
The state of the federal estate tax: Congress is getting closer to ... by Kanyuk, Amy K. / New Hampshire Business Review
Looking at federal estate taxes, USDA says that changes to these policies reduced the number of farm estates required to file an estate tax return as well as the number required to pay tax and the amount of federal estate taxes owed.
Farmers, more than others, benefit from federal tax code by The Food & Fiber Letter
 
 
 
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