What does estate tax in the united states mean?

Definitions for estate tax in the united states
es·tate tax in the unit·ed states

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  1. Estate tax in the United States

    The estate tax in the United States is a tax imposed on the transfer of the "taxable estate" of a deceased person, whether such property is transferred via a will, according to the state laws of intestacy or otherwise made as an incident of the death of the owner, such as a transfer of property from an intestate estate or trust, or the payment of certain life insurance benefits or financial account sums to beneficiaries. The estate tax is one part of the Unified Gift and Estate Tax system in the United States. The other part of the system, the gift tax, imposes a tax on transfers of property during a person's life; the gift tax prevents avoidance of the estate tax should a person want to give away his/her estate. In addition to the federal government, many states also impose an estate tax, with the state version called either an estate tax or an inheritance tax. Opponents of the estate tax call it the "death tax". If an asset is left to a spouse or a Federally recognized charity, the tax usually does not apply. In addition, up to $5,250,000 can be given by an individual, before and/or upon their death, without incurring federal gift or estate taxes.

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Numerology

  1. Chaldean Numerology

    The numerical value of estate tax in the united states in Chaldean Numerology is: 7

  2. Pythagorean Numerology

    The numerical value of estate tax in the united states in Pythagorean Numerology is: 4

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    the region of the body of a vertebrate between the thorax and the pelvis
    • A. plantation
    • B. accessory
    • C. abdomen
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