Death Tax - Law Dictionary Search Results
Home Dictionary Name: death taxdeath tax
death tax : a tax assessed on the transfer of property (as an estate, inheritance, legacy, or succession) after the transferor's death compare estate tax, generation-skipping transfer tax, gift tax ...
gift tax
gift tax : an excise tax imposed on a donor for gifts of property made during the donor's lifetime see also annual exclusion, gift split gift at gift, unified transfer tax compare death tax, estate tax, generation-skipping transfer tax ...
Death duties
Death duties. These are (1) the Estate Duty, which, by the (English) Finance Act, 1894 (57 & 58 Vict. c. 30), superseded the Probate or Administration Duty leviable under the Stamp Act, 1815, and the Account Duty leviable under the (English) Customs and (English) Inland Revenue Act, 1881; (2) the Succession Duty leviable under the (English) Succession Duty Act, 1853; (English) and (3) the Legacy Duty leviable under the Stamp Act, 1815:- duties leviable on the passing of property by the death of a person to his successors; (4) Settlement Estate Duty was abolished in respect of all deaths after 11th May, 1914, (English) Finance Act, 1914, s. 14. It consisted of 1 per cent., increased to 2 per cent. by the (English) Finance (1909-10) Act, 1910, in addition to other duties on settled property. It was not payable on property settled before August 1st, 1894, and certain allowances are accorded by the (English) Finance Act of 1914. It is still payable in respect of deaths on or before May 11t...
simultaneous death act
simultaneous death act : an act providing for the disposition of property or insurance benefits when there is no sufficient evidence that persons (as spouses) died other than simultaneously (as in an accident) NOTE: The simultaneous death act is a uniform act that has been adopted by most states. It covers situations where the title to or transfer of property depends on priority of death. In general, for determining the disposal of property, each decedent is considered to have survived the other, and an insured individual is considered to have survived a beneficiary. ...
Death Bed
Death Bed, Scots Law of. By this law an heir in Scotland was entitled to keep his heritage as against a disposition of it by his predecessor. But the law is repealed by 34 & 35 Vict. c. 81, the Act 'to abolish Reductions ex capite Lecti in Scotland.' See REDUCTION EX CAPITE LECTI.A state of serious illness, sickness which ends in death....
Death intestate
Death intestate, means death without leaving a will. If is not clear whether it would apply to a partial intestacy in respect of any particular property, Whitmore v. Lambert, (1955) 2 All ER 147....
Tax
Tax [fr. tasg, Wel.; taxe, Fr. and Dut.], an impost; a tribute imposed on the subject; an excise; tallage.A monetary charge imposed by government on persons, entities or properly to yield public revenue, Black's Law Dictionary, 7th Edn., p. 1469.Some general principles of taxation have been said to be:-(1) The subjects of every State ought to contribute to the support of the Government as nearly as possible in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the State. In the observation or neglect of this maxim consists what is called the equality or inequality of taxation.(2) The tax which each individual is bound to pay ought to be certain and not arbitrary. The time of payment, the manner of payment, the quality to be paid, ought all to be clear and plain to the contributor, and to every other person.(3) Every tax ought to be levied at the time, or in the manner, in which it is most likely to be co...
Death
Death. As to the registration of a death, see (English) Births and Deaths Registration Act, 1926 (16 & 17 Geo. 5, c. 48), 37 & 38 Vict. c. 88, 6 & 7 Wm. 4, c. 86, and 7 Wm. 4 & 1 Vict. c. 22. As to an action brought for damages arising from death by accident, neglect, etc., see the (English) Fatal Accidents Acts, 1846 (9 & 10 Vict. c. 93) [(English) Lord Campbell's Act] to 1908, as amended by (English) Law Reform (Miscellaneous Provisions) Act, 1934 (24 & 25 Geo. 5, c. 41), s. 2 (q.v.). as to the effect of death after the commencement of an action, see (English) Law Reform (Miscellaneous Provisions) Act, 1934. Apart from these statutes, at Common Law no civil claim for damages can be brought for the death of a human being, Baker v. Bolton, (1808) 1 Camp 493; The Amerika, 1914, P. 167. See BIRTHS, DEATHS AND MARRIAGES; ACTIO PERSONALIS; LAW REFORM; and Public Health Act, 1936 (deaths from infectious diseases). As to punishment of death, see CAPITAL PUNISHMENT.Homicide; includes suicide ...
Births, Marriages, and Deaths
Births, Marriages, and Deaths. By the (English) Births and Deaths Registration Act, 1836 (6 & 7 Wm. 4, c. 86), amended by the (English) Births and Deaths Registration Act, 1837 (7 Wm. 4 & 1 Vict. c. 22), a General Register Office is provided for keeping a register of births, deaths, and marriages in England. The Births and Deaths Registration Act, 1874 [37 & 38 (English) Vict. c. 88], amends the laws relating to the Registration of Births and Deaths in England in important particulars, and consolidates the law relating to the registration of births and deaths at sea. This Act (s. 1) imposes upon the father and mother of a child, and in their default, upon the occupier of a house in which to his knowledge a child is born, the duty of giving information to the registrar within 42 days. By s. 10 a corresponding obligation to register a death is imposed upon relatives, etc.By s. 203 of the (English) Public Health Act, 1936, births of any child alive or dead after the twenty-eighth week of ...
unified transfer tax
unified transfer tax : a tax imposed under the Internal Revenue Code on the cumulative total of gifts made over a certain amount by a person during his or her lifetime or after death called also unified estate and gift tax see also unified credit NOTE: The unified transfer tax system creates liability for a single tax rather than separate liability for a gift tax and an estate tax. ...
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