Death tax definition

Death tax means any tax levied by a state on account of the transfer or shifting of economic benefits in property at death, or in contemplation thereof, or intended to take effect in possession or enjoyment at or after death, whether denominated an “inheritance tax,” “transfer tax,” “succession tax,” “estate tax,” “death duty,” “death dues,” or otherwise.
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Death tax means any tax levied by a state on account of the transfer or shifting of
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Examples of Death tax in a sentence

  • Death tax paid to another state on assets also included in the Maryland estate c.

  • Death tax paid to another state on assets also included in the Maryland estate $ c.

  • Examples of direct taxes are; Income tax, Property tax, Vehicle tax, Interest tax, Expenditure tax, Death tax, Gift tax, etc.Merits • It is equitable as it is imposed on person as per the property or income.

  • Income tax, Property tax, Vehicle tax, Interest tax, Expenditure tax, Death tax, Gift tax are some examples of direct tax.

  • Eliminating some tax expenditures would meet several of the four key principles for tax reform and would advance good tax policy.There have been a series of beneficial reforms to Ohio’s tax code over the past decade.Personal income tax rates have been lowered, the Death tax has been eliminated, and significant tax relief has been granted to the engines of job creation – small businesses.

  • The examples of direct tax are: Income tax, Property tax, Interest tax, Capital gain tax, Vehicle tax, Death tax, Gift tax, Expenditure tax, Profit tax etc.

  • Examples of direct taxes are; Income tax, Property tax, Vehicle tax, Interest tax, Expenditure tax, Death tax, Gift tax, etc.

  • Examples of direct tax are: Income tax, Vehicle tax, Expenditure tax, Property tax, Interest tax, Death tax, Gift tax, Casual gain tax etc.Merits: a) It is equitable as it is imposed on a person as per the property or income.

  • The examples of direct tax are:Income tax, Property tax, Interest tax, Capital gain tax, Vehicle tax, Death tax, Gift tax, Expenditure tax, Profit tax etc.

  • Death tax carries just enough literal meaning to seem literal: the tax is paid after the death of a benefactor, although it is paid not by the benefactor but by the heirs.

Related to Death tax

  • input tax , in relation to a vendor, means—

  • Employment Tax means any Tax the liability or responsibility for which is allocated pursuant to the Employee Matters Agreement.

  • Employment Taxes means all fees, Taxes, social insurance payments or similar contributions to a fund of a Governmental Authority with respect to wages or other compensation of an employee or other service provider.

  • Use tax means a nonrecurring tax, other than a sales tax, which (a) is imposed on or with respect to the exercise or enjoyment of any right or power over tangible personal property incident to the ownership, possession or custody of that property or the leasing of that property from another including any consumption, keeping, retention, or other use of tangible personal property and (b) is complementary to a sales tax.

  • Excise Tax means any excise tax imposed under section 4999 of the Code.

  • FATCA Withholding Tax means any U.S. federal withholding tax imposed or collected pursuant to Sections 1471 through 1474 of the Code, any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections of the Code.

  • Other Tax means any Federal Other Tax, State Other Tax, or Foreign Other Tax.

  • Tax means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same).

  • Transfer Tax means all transfer, documentary, sales, use, stamp, registration, value added and other such Taxes and fees (including any penalties and interest) incurred in connection with the transactions contemplated under this Agreement.

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

  • Withholding Tax means any tax, deduction, levy or similar payment obligation that is required to be deducted or withheld from a payment under Applicable Law.

  • Tax Loss means the taxable income or tax loss of the Trust, determined in accordance with Section 703(a) of the Code, for each Fiscal Year as determined for federal income tax purposes, together with each of the Trust's items of income, gain, loss or deduction which is separately stated or otherwise not included in computing taxable income and tax loss.

  • Tax Delinquency means an unpaid Federal tax liability that has been assessed, for which all judicial and administrative remedies have been exhausted, or have lapsed, and that is not being paid in a timely manner pursuant to an agreement with the authority responsible for collecting the tax liability.

  • Tax Payment means either the increase in a payment made by an Obligor to a Finance Party under Clause 12.2 (Tax gross-up) or a payment under Clause 12.3 (Tax indemnity).

  • Local taxes means all taxes levied other than taxes levied for school operating purposes.

  • Asset Taxes means all ad valorem, property, excise, severance, production or similar Taxes (including any interest, fine, penalty or addition to Tax imposed by a taxing authority in connection with such Taxes) based upon operation or ownership of the Assets or the production of Hydrocarbons therefrom but excluding, for the avoidance of doubt, (a) income, capital gains, franchise and similar Taxes and (b) Transfer Taxes.

  • Erroneous Payment Return Deficiency has the meaning assigned thereto in Section 10.12(d).

  • Income Tax means any federal, state, local, or foreign income tax, including any interest, penalty, or addition thereto, whether disputed or not.

  • Income Taxes means any Tax which is based upon, measured by, or calculated with respect to (i) net income or profits (including, but not limited to, any capital gains, gross receipts, value added or minimum Tax) or (ii) multiple bases (including, but not limited to, corporate franchise, doing business or occupation Taxes) if one or more of the bases upon which such Tax may be based, by which it may be measured, or with respect to which it may be calculated is described in clause (i) of this sentence.

  • Tax Benefit Payment is defined in Section 3.1(b) of this Agreement.

  • Net Taxable Income has the meaning set forth in Section 4.01(b)(i).

  • Total After-Tax Payments means the total of all “parachute payments” (as that term is defined in Section 280G(b)(2) of the Code) made to or for the benefit of the Executive (whether made hereunder or otherwise), after reduction for all applicable federal taxes (including, without limitation, the tax described in Section 4999 of the Code).

  • Employee Taxes means all taxes, assessments, charges and other amounts whatsoever payable in respect of, and measured by the wages of, the Vendor’s employees (or subcontractors), as required by the Federal Social Security Act and all amendments thereto and/or any other applicable federal, state or local law.

  • Cash Taxes in respect of any fiscal period means amounts actually paid by the Companies in such fiscal period in respect of income and capital Taxes (whether relating to such fiscal period or any other fiscal period).

  • Tax Losses has the meaning assigned to such term in Section 7.1(a).

  • Additional Taxes means taxes, duties or other governmental charges imposed on the Trust as a result of a Tax Event (which, for the sake of clarity, does not include amounts required to be deducted or withheld by the Trust from payments made by the Trust to or for the benefit of the Holder of, or any Person that acquires a beneficial interest in, the Securities).