A tax levied on the net value of the estate of a deceased person before distribution to the heirs. Also called death tax.
More example sentences
- He estimated that the reduction in income tax revenue was of roughly the same magnitude as the direct revenue effect of the estate tax.
- Bush's plan, once implemented, will phase out the estate tax and sharply reduce the top income tax brackets.
- The truth is that most of the accumulated wealth that is subject to the estate tax was never taxed at all as income.
Definition of estate tax in:
- The British & World English dictionary