Answered

What is an estate tax?

A. A tax on inheritance of land or capital
B. A sales tax that applies only to a specific good or service
C. A tax on goods and services
D. A progressive property tax for extremely valuable properties



Answer :

GinnyAnswer

Final answer:

Estate tax is a tax on the transfer of property upon a person's death, aiming to limit inherited wealth.


Explanation:

Estate tax is a tax imposed on the transfer of property upon a person's death, targeting the value of the inheritance. This tax is designed to limit the amount of wealth that can be passed on as inheritance and typically applies to estates above a certain value threshold, such as in the United States where it applied to inheritances over $5.43 million.


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