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The deceased person's estate is subject to inheritance tax. All monies within the estate above a set amount determined by the government is liable to a tax before funds are released to the beneficiaries

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15y ago

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What is the tax on property transfer when a person dies called?

Estate tax is levied when a person dies


Which type of tax is collected by a mediating agent from the person who is responsible for paying the tax?

indirect tax


Can Workers Compensation be collected if the injured person dies?

in a way yes


Is Service Tax direct tax?

no service tax is not a direct tax. b'coz direct tax is directly imposed on person and it can't be transfered on the other person. Service tax is levied on service provided and it is levied and collected from clients. so service tax is an Indirect Tax.


What type of tax is collected by a mediating agent from the person who is responsible for paying the tax?

The type of tax collected by a mediating agent from the person responsible for paying it is typically referred to as a "withholding tax." This tax is deducted at the source by the mediating agent, such as an employer or financial institution, and is then remitted to the tax authorities on behalf of the taxpayer. Withholding taxes are commonly applied to income, dividends, and interest payments.


Who is responsible for paying an estate tax?

A person who inherits goods when someone dies.


Who is responsible for paying estate tax?

A person who inherits goods when someone dies.


Which type of tax is collected mediating agent from the person who is responsible for paying the tax?

The type of tax collected by a mediating agent from the person responsible for paying the tax is known as a "withholding tax." This tax is typically deducted at the source by employers or financial institutions before the income is disbursed to the taxpayer. It ensures that tax obligations are met in advance, streamlining the collection process for governments. Examples include income tax withholdings and payroll taxes.


Which of the following is an example of a tax collected by the state of Georgia?

Sales tax is an example of a tax collected by the state of Georgia.


How do i find the pretax amount if i have the tax percentage and the amount of tax collected?

To find the pretax amount when you have the tax percentage and the amount of tax collected, you can use the formula: Pretax Amount = Tax Collected / (Tax Percentage / 100). First, convert the tax percentage into a decimal by dividing it by 100, then divide the tax collected by this decimal. This calculation will give you the pretax amount before tax was added.


Which type of tax is assessed based on the property and goods left behind when a person dies?

Inheritance tax is the tax on property and goods left behind at death.


Which type of tax is assessed based on property and goods left behind when a person dies?

Inheritance tax is the tax on property and goods left behind at death.