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

Estate Tax Revisions: Perhaps most important to estate planning attorneys is the discussion on the estate tax exemption (and corresponding gift tax exemption and generation-skipping transfer tax exemption). —Darren T. Case, Forbes, 1 Nov. 2024

Higher estate tax exemptions approved under the Trump administration’s Tax Cuts and Jobs Act of 2017 are set to expire next year. —Sean Conlon, CNBC, 27 Oct. 2024

The estate tax rate ranges from 18% to 40%, depending on the amount above the exemption amount. —Medora Lee, USA TODAY, 25 Oct. 2024

Tax Cuts and Jobs Act The 2017 Tax Cuts and Jobs Act, a major revamp of the individual income and estate tax codes made under the Trump administration, is set to expire after 2025. —Nerdwallet, The Mercury News, 15 Oct. 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