from The American Heritage® Dictionary of the English Language, 4th Edition
- n. A tax imposed on the privilege of receiving property by inheritance or legal succession and assessed on the value of the property received. Also called death tax.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. A tax based on the value of the property of a deceased person, and charged on the beneficiaries of the estate.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. a tax on the estate of the deceased person
Sorry, no etymologies found.
Gangsters Robert Johnson and Harry Allan set me straight: an estate tax (federal or state) is imposed on the net value of the deceased person’s property; an inheritance tax (nonfederal, some states) is levied on the heir who receives that property.
On death and taxes: In examining dysphemisms, I wrote: When did the inheritance tax (a pro-taxing term) become the estate tax (a neutral term)?
Alexi, driven by the suddenly self-evident notion that a man must pass something on to his son, unmediated by inheritance tax if possible, began to look around for good investments.
When did the inheritance tax (a pro-taxing term) become the estate tax (a neutral term)?