legacy tax

A tax on a legacy, often with the provision that the rate increases as the relationship of the legatee becomes more remote from the testator.

• In English law, this tax was known as a legacy duty; it was abolished in 1949. Cf. collateral-inheritance tax. [Cases: Taxation 856.1. C.J.S. Taxation §§ 1783–1785, 1792.]

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双语律师Julie，国际知名法学院法律专业，擅长翻译各类与证券监管、合规与执法相关的法律文件。