Inheritance Tax
/ɪnˈhɛrɪtəns tæks/
Definitions
- (n.) A tax imposed on the estate or assets passed on to heirs after an individual's death.
The inheritance tax reduced the amount received by the beneficiaries.
Forms
- inheritance tax
- inheritance taxes
Related terms
See also
Commentary
Often confused with estate tax, inheritance tax is distinct in that it is levied on recipients of the estate rather than the estate itself.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.