inheritance tax
noun
a tax levied on the right of an heir to receive a decedent's property, the rate being a percentage of the value of the property.
Compare
estate tax.
Origin of inheritance tax
First recorded in 1835–45
Words nearby inheritance tax
inherent,
inherent immunity,
inherit,
inheritable,
inheritance,
inheritance tax,
inherited character,
inheritor,
inheritrix,
inhesion,
inhibin
British Dictionary definitions for inheritance tax
inheritance tax
noun
(in Britain) a tax introduced in 1986 to replace capital transfer tax, consisting of a percentage levied on that part of an inheritance exceeding a specified allowance, and scaled charges on gifts made within seven years of death
(in the US) a state tax imposed on an inheritance according to its size and the relationship of the beneficiary to the deceased