gift tax

A tax imposed when property is voluntarily and gratuitously transferred.

• Under federal law, the gift tax is imposed on the donor, but some states tax the donee. [Cases: Internal Revenue 4200; Taxation 906.10. C.J.S. Internal Revenue §§ 493–494, 499, 557–565, 573–575; Taxation §§ 1783–1784.]

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词条贡献者

译员Clara，毕业于国内知名法学院，擅长翻译有关建筑领域的法律文件。