estate tax

noun

: a tax in the form of a percentage of the taxable estate that is imposed on a property owner's right to transfer the property to others after his or her death compare inheritance tax sense 1

Examples of estate tax in a Sentence

Recent Examples on the Web

There’s no estate tax in South Carolina, and residents 65 and older can deduct $10,000 of income from most retirement plans for state income tax purposes. —Patricia Doherty, Travel + Leisure, 16 May 2024

Reversing a 2014 estate tax exemption and adding a 1% surcharge on capital gains would bring in millions more. —Reader Commentary, Baltimore Sun, 14 Mar. 2024

Word History

First Known Use

1928, in the meaning defined above

Legal Definition

estate tax

noun

: an excise in the form of a percentage of the taxable estate that is imposed on a property owner's right to transfer the property to others after his or her death

called also succession tax

see also unified transfer tax compare gift tax, inheritance tax