One of the mysteries of the English language finally explained.
A tax levied on the net value of the estate of a deceased person before distribution to the heirs.
- ‘One of the more significant provisions of the 2001 Tax Act was the repeal of the federal estate tax in 2010.’
- ‘The House voted to repeal the estate tax at a cost of nearly $1 trillion over 10 years.’
- ‘The drive to abolish the estate tax is just one part of a much broader attack on the progressive tax system.’
- ‘First of all, the estate tax certainly impedes capital formation.’
- ‘He not only eliminated the estate tax and lowered the tax rates on dividends and capital gains but reduced the rates on regular income taxes as well.’
- ‘They may think that the phase-out of the federal estate tax means no taxes will be due when they die.’
- ‘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 good news is, slowly but surely, the estate tax is going away.’
- ‘The estate tax is America's most progressive and fairest tax, paid only by multi-millionaires and billionaires.’
- ‘The income tax would apply in more situations than the estate tax would.’
- ‘As a result, the number of households subject to the estate tax will shrink from 50,000 to about 6,000 a year.’
- ‘Some other states, such as New Jersey, do apply an inheritance tax in addition to the federal estate tax, so future liability must be checked prior to any purchase.’
- ‘But the estate tax was meant to do more than bolster budgets and aid charities.’
- ‘It could be balanced with a steep estate tax that encouraged people to spend/donate most of their wealth before death.’
- ‘Like the Alternative Minimum Tax, the estate tax will affect a growing number of Americans as prices creep up.’
- ‘With the estate tax winding down over the next seven years, though, you might think these maneuvers had become passé.’
- ‘But I thought the repeal of the estate tax was one of the main ways the Bush tax cut benefits the well-to-do?’
- ‘The truth is that most of the accumulated wealth that is subject to the estate tax was never taxed at all as income.’
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