Inheritance Tax

Inheritance Tax means:
a state tax based on the value of the property passing to each particular heir of a decedent. Such a tax differs from the federal estate tax in that the degree of kinship of the heir to the decedent generally determines the exempt amounts and tax rates. An estate tax is based on the value of all property left by the decedent; whereas an inheritance tax is based on the amount that an heir receives. Former IRC (check if this IRC provision is current here) §2011.

See also other Tax Terms and Definitions in U.S.A.

unified estate and gift tax.

See Inheritance Tax and Inheritance Tax.

See Tax Rate and Tax Rate.