Unified Credit

Unified Credit means:
a credit or other debt instrument for both the federal estate tax and the gift tax (see unified estate and gift tax), which is deducted directly from the gross estate tax to determine the net estate tax payable. The amount of this credit is $192,800. At 1993 tax rates, this means that an estate valued at $600,000 passes to the beneficiaries free of federal estate tax. Former IRC (check if this IRC provision is current here) §§2010 and 2505.

See Tax Rate and Tax Rate.