Definition
Inheritance tax, also known as estate tax or death duty, is a tax imposed on the transfer of assets or property from a deceased person to their heirs or beneficiaries. Inheritance tax rates may vary depending on factors such as the value of the estate, the relationship between the deceased and the beneficiaries, and applicable exemptions or deductions. Inheritance tax helps redistribute wealth and fund government programs.
Our trending searches definitions
Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.