Meaning Of The Word Inheritance tax

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Inheritance tax Meaning

Inheritance tax Definition
Inheritance tax Definition

What's The Definition Of Inheritance tax?

inheritance tax
countable noun: An inheritance tax is a tax which has to be paid on the money and property of someone who has died.

inheritance tax in American English
a tax levied by the state upon the right of a beneficiary to receive the property of a deceased person
noun: 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

inheritance tax in British English
noun: (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

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