Estate Taxes

Business, Legal & Accounting Glossary

Definition: Estate Taxes

Full Definition of Estate Taxes

Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and whether or not it goes through probate after your death, is subject to federal estate tax. Currently, however, federal estate tax is due only if your property is worth at least $2 million when you die. The estate tax is scheduled to be repealed for one year, in 2010, but Congress will probably make the repeal (or a very high exempt amount) permanent. Any property left to a surviving spouse (if he or she is a U.S. citizen) or a tax-exempt charity is exempt from federal estate taxes. Many states now also impose their own estate taxes or inheritance taxes.

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Modern Language Association (MLA):
Estate Taxes. Payroll & Accounting Heaven Ltd. September 21, 2021
Chicago Manual of Style (CMS):
Estate Taxes. Payroll & Accounting Heaven Ltd. (accessed: September 21, 2021).
American Psychological Association (APA):
Estate Taxes. Retrieved September 21, 2021, from website:

Definition Sources

Definitions for Estate Taxes are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 22nd April, 2020 | 0 Views.