2007-02-26 06:36:35 · 4 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Obscene, in both percentage and justification (or lack thereof).
2007-02-26 07:21:06 · answer #1 · answered by Rob D 5 · 0⤊ 1⤋
Inheritance tax, estate tax and death duty are the names given to various taxes which arise on the death of an individual. In United States tax law, there is a distinction between an estate tax and an inheritance tax: the former taxes the personal representatives of the deceased, while the latter taxes the beneficiaries of the estate. However this distinction does not apply in other jurisdictions: for example, if using this terminology UK inheritance tax would be an estate tax.
2007-02-26 15:02:28 · answer #2 · answered by Faye H 6 · 1⤊ 0⤋
a form of double tax. The money being taxed in an estate tax was already taxed once when it would earned. The rates are far to low.
2 million before estate taxes are levied is far too low, it should rise to about 20 million, allowing family owned buissness to not have to sell when a parent dies just to pay estate taxes.
2007-02-26 16:58:02 · answer #3 · answered by Jacques C 2 · 0⤊ 0⤋
unfair?
I think it maxes out at 55% for really big estates.
2007-02-26 18:16:38 · answer #4 · answered by Quixotic 3 · 0⤊ 0⤋