Elizabeth Gleason just died.At the time of her death the total value of her assets was $150,000.The federal government collected $7,500 in taxes based on this value.What type of tax is this most likely to be?

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Quizplus · Accepted Answer

This is most likely an estate tax, which is a tax levied on the net value of the estate of a deceased person before distribution to the heirs. The fact that the tax is based on the total value of Elizabeth Gleason's assets at the time of her death aligns with how estate taxes are assessed and collected.

Elizabeth Gleason Just Died