estate tax


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estate tax:

see inheritance taxinheritance 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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References in periodicals archive ?
The program 'provides the taxpayers a one-time opportunity to settle estate tax obligations through an estate tax amnesty program that will give reasonable tax relief to estates with outstanding estate tax liabilities.' -BEN O.
The estate tax amnesty shall cover the estate of the decedents who died on or before December 31, 2017, with an estate tax amnesty rate of 6 percent.
The sense of urgency to undertake some form of planning is greatly heightened by the fact that the increased federal gift and estate tax exemptions are set to sunset back to their prior levels on January 1, 2026.
There will be no federal estate tax, because the ranch's value is below the almost $11 million federal estate tax combined exclusion amount.
This article discusses the mechanics of the estate tax as well as a number of planning techniques to minimize the federal estate tax so that the estate can transfer the maximum value to its beneficiaries.
Comment: Prior to the decision in Windsor, same-sex couples who were legally married could not take advantage of the marital deduction for gift and estate tax purposes that would have negated any gift or estate taxes resulting from gratuitous transfers between them.
Estate tax rates and inheritance tax rates for the states that still impose them vary widely, as you can see by the chart below.
The repeal of the New Jersey estate tax might, subject to the uncertainties note above, present a valuable planning opportunity for certain individuals.
Assuming Irene dies with that $10 million a few years later, when the estate tax exemption has risen to $6 million, her estate would be $4 million over the limit.
In return, real estate tax employees asked the Ministry of Justice to join other taxes employees in the incentives and health care scheme.
So obviously, the estate tax reaches only a few families.
The impact of the federal estate tax varies by farm size.