Gift Tax Payment - FOLIO Ontology

Identification

IRI:

https://folio.openlegalstandard.org/RCNVZZsH2ADCweFko4b2UoE

Label Gift Tax Payment

Preferred Label N/A

Identifier N/A

Alternative Labels

Donor Tax Payment Gift Duty Payment Inter Vivos Gift Tax Settlement Lifetime Transfer Tax Payment

Definition

Gift Tax Payment refers to the settlement of taxes imposed on the transfer of wealth or property during an individual's lifetime that exceeds certain thresholds. This tax is generally paid by the donor, not the recipient, and is intended to prevent the avoidance of estate and inheritance taxes through lifetime gifts.

Class Relationships

Sub Class Of

• Estate, Inheritance, and Gift Tax Payment

Is Defined By

N/A

Class Hierarchy Visualization

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Additional Information

Metadata

Comment

None

Description

None

Notes

• None

Editorial Information

History Note

None

Editorial Note

None

Deprecated

No

Source and Origin

No source or origin information available