A federal and state tax levied on the privilege of making gifts to others is called a(n)________ tax.

Name: A federal and state tax levied on the privilege of making gifts to others is called a(n)________ tax.
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Question

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The correct term for a tax levied on the privilege of making gifts to others is a "gift" tax. This tax is imposed by both federal and some state governments on the transfer of property by one individual to another while receiving nothing, or less than full value, in return.

A Federal and State Tax Levied on the Privilege of Making