inheritance tax

noun

1

: a tax on a decedent's net estate that is levied after the estate is transmitted to the inheritors

2

: death tax

especially : estate tax

Examples of inheritance tax in a Sentence

Recent Examples on the Web

Legislative Changes to Local Death Tax Proposed changes to inheritance tax rules, including potential alterations to relieve the death tax burden on local business and agricultural assets, may significantly impact estate planning strategies. —Matthew F. Erskine, Forbes, 2 Jan. 2025

Under the new inheritance tax rules, from 2026 a 20% tax will be paid on the value of a farm above 1 million pounds. —Fox News, 11 Dec. 2024

No 4: Game-changing money from the Gulf The biggest story in the UK this week has been about farmers protesting against a change to inheritance tax. —Matt Slater, The Athletic, 21 Nov. 2024

The flashpoint is the government’s decision in its budget last month to scrap a tax break dating from the 1990s that exempts agricultural property from inheritance tax. —Jill Lawless, The Christian Science Monitor, 19 Nov. 2024

Word History

First Known Use

1841, in the meaning defined at sense 1

Legal Definition

inheritance tax

noun

: an excise tax that is levied upon the privilege of receiving property as heir or next of kin under the law of intestacy and that is measured by the value of the property received compare estate tax