What is another word for gift tax?
Pronunciation: [ɡˈɪft tˈaks] (IPA) 
There are several synonyms for the term "gift tax", including inheritance tax, estate tax, and donation tax. Inheritance tax is the tax imposed on inherited properties and assets of a deceased individual. On the other hand, an estate tax is a tax imposed on the transfer of assets after the death of an individual. Meanwhile, a donation tax is charged on contributions made by organizations or individuals to charitable causes or institutions. These terms are often used interchangeably, but it is important to understand their individual meanings when dealing with tax-related matters. The accurate understanding of these synonyms would help in making appropriate tax payment or filing.
