Inheritance tax, also known as death tax or estate tax, is a tax imposed on the estate of a deceased person. It is based on the value of the assets and properties the person leaves behind.

Estate tax, also known as death tax or inheritance tax, is a tax imposed on the transfer of a deceased person’s estate to their beneficiaries. It is based on the total value of the estate, including cash, properties, investments, and other assets.

The key difference between inheritance tax and estate tax lies in who pays the tax. Inheritance tax is paid by the beneficiaries who receive the assets and properties of the deceased person, while estate tax is paid by the estate itself before distributing the assets to the beneficiaries.

Yes, both inheritance tax and estate tax are imposed on the transfer of assets and properties upon the death of a person. They are both forms of taxation that aim to generate revenue for the government. The rates and thresholds for these taxes may vary depending on the jurisdiction.

The imposition of inheritance tax and estate tax varies from country to country. Some countries, like the United States, have estate tax at the federal level and inheritance tax at the state level. Other countries, such as the United Kingdom, have inheritance tax but no estate tax. It is important to consult with local tax laws to understand the specific regulations in each jurisdiction.