Definition from Nolo’s Plain-English Law Dictionary
Taxes levied at death, based on the value of property left behind. There are two main types of death taxes in the United States: estate taxes and inheritance taxes. The federal government and some state governments impose estate taxes on decedent's estates. And some states levy inheritance taxes on people who inherit property.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:14 pm