Estate tax
Term · Law · MLC-T-LAW-001923
A tax levied on the total value of a person's assets transferred to heirs upon their death. This federal or state tax is imposed on the privilege of transferring property, not on the inheritance received by beneficiaries. The tax applies only to estates exceeding a certain exemption threshold.
| Identifier | MLC-T-LAW-001923 |
|---|---|
| Field | Law |
Record as JSON
{
"id": "MLC-T-LAW-001923",
"term": "Estate tax",
"field": "Law",
"definition": "A tax levied on the total value of a person's assets transferred to heirs upon their death. This federal or state tax is imposed on the privilege of transferring property, not on the inheritance received by beneficiaries. The tax applies only to estates exceeding a certain exemption threshold.",
"url": "https://mlchart.com/terminology/law/estate-tax/"
}
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