estate taxes Synonyms
estate taxes Meaning
estate taxes
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, 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
estate taxes Sentence Examples
- Estate taxes are levied on the value of a deceased individual's estate at the time of their death.
- The federal estate tax exemption is currently set at $12.06 million for individuals and $24.12 million for married couples.
- Some states, such as California and New York, also impose their own state estate taxes.
- Estate taxes can be a significant financial burden for the heirs of the deceased.
- There are various strategies that can be used to minimize or avoid estate taxes, such as trusts and charitable donations.
- The estate tax rate is graduated, meaning that it increases as the value of the estate increases.
- The estate tax is a progressive tax, meaning that it affects wealthy individuals more than low-income individuals.
- The estate tax has been controversial since its inception, with some arguing that it is unfair and others arguing that it is necessary to generate revenue for the government.
- The Biden administration has proposed raising the estate tax rate and lowering the exemption amount.
- The future of estate taxes in the United States is uncertain, as it is subject to political and economic factors.
FAQs About the word estate taxes
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 deat
income taxes,inheritance taxes, death taxes, flat taxes, sin taxes, tariffs, single taxes, surtaxes, withholding taxes, sales taxes
No antonyms found.
Estate taxes are levied on the value of a deceased individual's estate at the time of their death.
The federal estate tax exemption is currently set at $12.06 million for individuals and $24.12 million for married couples.
Some states, such as California and New York, also impose their own state estate taxes.
Estate taxes can be a significant financial burden for the heirs of the deceased.
