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A Federal Tax Levied on the Value of the Inheritance

question 18

Multiple Choice

A federal tax levied on the value of the inheritance of a deceased person to transmit his or her property and life insurance at death is called a(n) ________ tax.


Definitions:

Time Wages

A system of compensation based on the amount of time an employee works, usually expressed as an hour rate.

Salary

A financial reward calculated on a weekly, monthly, or annual basis.

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