A tax that is imposed by the federal government, and some state governments, on the transfer of assets to heirs. The Taxpayer Relief Act of 1997 provides that the amount of assets each person can exclude from estate taxes is $675,000 in 2000 and 2001, rising to $1 million in 2006 and later years.
a tax imposed by the U.S. government on the transfer of property at death; scheduled to be repealed for one year in 2010
An excise tax levied by the federal government on the right to transfer property at death. It is imposed on and measured by the value of the estate left behind by the deceased.
The tax paid to the federal government by the personal representative or trustee of a person's estate or trust out of the estate or trust assets.
Federal Estate Tax is the tax owed to the Federal Government nine (9) months after death.
The federal tax imposed on the transfer of property to others at death.
Federal tax imposed on the right to transfer property by death.
The tax that the federal government imposes on an estate. Generally, the first $600,000 of an estate is not subject to federal estate tax. Once the $600,000 threshold is met, tax rates begin at 37 percent and increase to 55 percent.
The federal tax placed on the deceased's estate amounting to the calculated value of the estate.
The tax on an individual's right to transfer property to others at death.
A federal tax levied upon the property of an individual at death. Ownership of a life insurance policy constitutes property and is therefore subject to federal tax. The value of life insurance policies owned by the deceased on the lives of others is also taxable.
An excise tax currently levied upon the transfer of property or interests in property at death. Life insurance proceeds are taxable if payable to the decedents estate, or if payable to named beneficiaries and the insured possessed at death any incidents of ownership in the policy or policies. The value of life insurance policies owned by the decedent on the lives of others is also taxable.
The federal tax which is imposed on the deceased's estate which includes the total assets comprising a person's estate at death.