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Definitions from WordNet

Definitions from the Web

Gift Tax

Noun:

A gift tax refers to a tax imposed on the transfer of property, money, or assets from one individual to another, where the recipient is not required to pay for it. This tax is usually levied on the giver rather than the receiver.

Example sentence:

When my grandmother passed away and left me her estate, I had to pay gift tax on the property I inherited.

Related products on Amazon:

• Gift Tax Books
• Gift Tax Guide
• Gift Tax Planning