Federal Estate Tax
The Federal estate tax is imposed "on the transfer of the taxable estate of every decedent who is a citizen or resident of the United States." The starting point in the calculation is the "gross estate." Certain deductions (subtractions) from the "gross estate" amount are allowed in arriving at a smaller amount called the "taxable estate."
Read more about this topic: Estate Tax In The United States
Famous quotes containing the words federal, estate and/or tax:
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—C. Wright Mills (1916–1962)
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—Henry David Thoreau (1817–1862)
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—Friedrich Nietzsche (1844–1900)