Death Tax
Definition:
In the broadest sense, a death tax is simply a tax that is collected as the result of someone's death.
In the context of federal estate taxes, the term "death tax" was coined years ago to put an negative spin on this type of tax.
This term is also used to refer to an inheritance tax, which is a state imposed tax on the privilege of receiving a deceased person's assets.
Some have referred to "Medicaid estate recovery" as a death tax on the middle class.
Also Known As: Estate Tax, Inheritance Tax, Medicaid Estate Recovery, Succession Tax
In the broadest sense, a death tax is simply a tax that is collected as the result of someone's death.
In the context of federal estate taxes, the term "death tax" was coined years ago to put an negative spin on this type of tax.
This term is also used to refer to an inheritance tax, which is a state imposed tax on the privilege of receiving a deceased person's assets.
Some have referred to "Medicaid estate recovery" as a death tax on the middle class.
Also Known As: Estate Tax, Inheritance Tax, Medicaid Estate Recovery, Succession Tax
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