A tax levied on an heir to receive all or part of the estate and life insurance proceeds of a deceased person is called a(n)________ tax.

Name: A tax levied on an heir to receive all or part of the estate and life insurance proceeds of a deceased person is called a(n)________ tax.
Brand: Quizplus
Rating: 4.9 (43 reviews)

Question

Quizplus · Accepted Answer

An inheritance tax is a tax levied on an individual who inherits money or property of a deceased person, distinguishing it from an estate tax, which is levied on the estate itself before distribution to heirs.

A Tax Levied on an Heir to Receive All or Part