inheritance tax
Inheritance tax is a tax levied on the assets or property that a person inherits after someone's death. It is based on the value of the inherited assets and is typically paid by the recipient of the inheritance.
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Related Concepts (24)
- capital gains tax
- death tax
- estate planning
- estate tax
- estate tax reforms
- estate taxes
- exemption thresholds
- gift tax
- inheritance tax rates
- intergenerational wealth transfer
- probate process
- redistribution of wealth
- tax brackets and rates
- tax code revisions
- tax exemptions and deductions
- tax liabilities
- tax planning and strategies
- taxable estate
- taxation
- taxation policies
- trusts and wills
- wealth gap
- wealth preservation
- wealth redistribution