Death taxes

Death taxes,

Definition of Death taxes:

  1. Levies (such as estate tax or inheritance tax) imposed on a property upon the death of its owner, or on its transfer carried out prior to his her death. Also called death duties.

  2. Death taxes are taxes imposed by the federal and/or state government on someone's estate upon their death. These taxes are levied on the beneficiary who receives the property in the deceased's will or the estate which pays the tax before transferring the inherited property.

  3. Death taxes are also called death duties, estate tax, or inheritance tax.

Meaning of Death taxes & Death taxes Definition