- A tax imposed by state authorities based on the estate tax credit the U.S. federal government allows on the federal estate tax return. As this tax is imposed at the state level, the amounts owing vary state to state. And because estates are taxed at the federal level only when the minimum federal estate threshold has been surpassed, state pick-up taxes are not always applied.
States which do not have an estate, or death, tax will "pick up" additional taxes from the estate of the deceased above and beyond what is owed to the feds. This simple method of determining the estate’s state-tax liability allows states to avoid having to establish the complex guidelines for an estate tax of their own.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
Tax law — Tax code redirects here. For the term as used in the United Kingdom PAYE system, see Tax code (PAYE). Tax law is the codified system of laws that describes government levies on economic transactions, commonly called taxes. Major issues Primary… … Wikipedia
Tax resistance — A tax resister resists or refuses payment of a tax because of opposition to the institution collecting the tax, or to some of that institution’s policies. Often tax resistance has come from pacifists, conscientious objectors or members of… … Wikipedia
Ohio estate tax — Part of a series on Taxation Taxation in the United States … Wikipedia
Goods and Services Tax (Hong Kong) — Goods and Services Tax (GST) was a proposed Value Added Tax in Hong Kong. Consultation over a period of nine months was launched on 2006 07 19 and stirred considerable controversy.It launched a fierce debate amongst local taxpayers, lawmakers,… … Wikipedia
Massachusetts Sales Tax Relief Act — Elections in Massachusetts Federal government Presidential elections 1972 · 2000 · 2004 · 2008 Presidential primaries … Wikipedia
Women's Tax Resistance League — The Women’s Tax Resistance League was a direct action group associated with the Women’s Social and Political Union that used tax resistance to protest the disenfranchisement of women during the British women’s suffrage movement. Dora Montefiore… … Wikipedia
Poll pick — Poll Poll, n. [Akin to LG. polle the head, the crest of a bird, the top of a tree, OD. pol, polle, Dan. puld the crown of a hat.] 1. The head; the back part of the head. All flaxen was his poll. Shak. [1913 Webster] 2. A number or aggregate of… … The Collaborative International Dictionary of English
Gas Guzzler Tax — The National Energy Act: Energy Tax Act of 1978 imposed set tax penalties on car manufacturers who fail to meet the minimum fuel economy level of 22.5 mpg. This does not include minivans, sport utility vehicles or pick up trucks. It is intended… … Wikipedia
Poll tax — Poll Poll, n. [Akin to LG. polle the head, the crest of a bird, the top of a tree, OD. pol, polle, Dan. puld the crown of a hat.] 1. The head; the back part of the head. All flaxen was his poll. Shak. [1913 Webster] 2. A number or aggregate of… … The Collaborative International Dictionary of English
David Paterson — This article is about the former Governor of New York. For other spellings and people of the same name, see David Patterson (disambiguation). David Paterson Paterson at the 2008 Tribeca Film Festival 55th Governor of New York … Wikipedia