Federal tax upon a monetary gift to a relative or friend. Generally, each person may give up to $10,000 per year to each done without imposition of a federal gift tax. On higher gifts, there may be a gift tax, or the gift may affect the donor's estate tax.

A federal tax on large gifts.

Gifts to individuals may be subject to gift tax. However, the tax law allows for an exclusion of $10,000 (indexed annually for inflation) per year for gifts from one person to another person. This means that a married couple could each give a child $10,000. And, if the child is married, they could each give the child's spouse $10,000 for a total annual gift to the couple of $40,000. In addition to the annual exclusion there is a once-in-a-lifetime exclusion for making even larger gifts.

State and/or Federal taxes levied on the transfer of gifted property.

federal tax that is imposed on the transfer of assets during your life.

Under the Unified Federal Estate and Gift Transfer Tax System a tax levied on the transfer of property without payment or other value in exchange.

A federal and sometimes a state tax on inter vivos transfers without consideration.

A graduated tax imposed by the federal government (and most state governments) on transfers of assets over $10,000 per year per donee.

A tax imposed on someone who gives money or property to another person without compensation

A tax assessed against a person who gives money or assets to another person without receiving fair compensation.

Federal tax on completed gifts from one person to another. Under the Internal Revenue Code, the Gift Tax applicable exclusion amount is $1,000,000. There is currently an annual exclusion of $11,000 applying to each gift of a present interest from a donor to each donee.

A graduated system of federal tax paid by donors on gifts exceeding certain minimum amounts.

Tax on gifts, which is paid by the donor, rather than by the recipient. The same exemption applies to gift taxes as applies to estate taxes, and can be used against either tax (up to the limit of the single exemption per individual).

A tax levied by the federal government on the value of certain types of gifts made during the giver's lifetime.

a tax imposed on transfers of property by gift during the lifetime of the giver

a tax levied on monetary and non-monetary gifts

a tax on the transfer of property between living people

a tax on the transfer of property (or money) by one individual to another while receiving nothing, or less than full value, in return

a tax that is imposed when an individual gives away a certain amount of gifts that are considered valuable

a tax that is impose

Tax on gifts made during a personâ€(tm)s lifetime. Many gifts are exempt from tax: gifts to tax-exempt charities or the giverâ€(tm)s spouse (if the recipient spouse is a U.S. citizen), and gifts of $11,000 or less to a single recipient each calendar year.

A transfer tax imposed at a rate equal to 18% to 50% on transfers made by a donor during their lifetime. Each decedent has a federal unified credit exemption ($1,000,000 in 2003, and $1,500,000 in 2004) from the federal gift tax, and, if not used during lifetime, the exemption will exempt transfers at death from the federal estate tax. Also, each donor can make an unlimited number of annual exclusion gifts each year without incurring gift tax.

A tax that can be due when you give property or other assets away. You are allowed to give away a maximum of $10,000 per person (to any number of people) in any year without the tax applying. Above the $10,000 amount, you have a once-in-a-lifetime exclusion, which permits you to give away a certain amount of property without paying any gift tax. The gift tax and the estate tax are coordinated (unified) so that the exclusion is only available once between them. The exclusion amount is being increased in periodic increments and should be checked at any time to verify the current exclusion amount.

A tax on gratuitous transfers, usually only over $11,000, to non-charitable beneficiaries.

The tax imposed on any gift, other than a gift to a spouse, more than the amount allowed as an annual exclusion gift.

A tax imposed on the transfer of money or property through gifts made by an individual.

A federal tax on gifts made while you are living. In 2002, $11,000 per person per year is exempt from gift tax. Also see "Annual Exclusion."

A federal and state gift tax on the transfer of property.

A tax assessed on the giver of a property or asset as a gift. A $10,000 federal gift tax exemption exists per recipient. See: Gift splitting.

Gifts of cash or securities over $11,000 per year, per recipient are taxed by the IRS at a highly progressive rate.

A tax on the transfer (during the donor's lifetime) of property worth more than $11,000 per year to another person; payable primarily by the donor.

A tax that is levied upon an individual who makes a gift to someone else. An individual is not subject to Federal gift tax if he or she gives a million dollars or les during his or her lifetime. However, one may be subject to gift tax levied by his or her state (or the recipient may be subject to a state gift tax). There are Federal exclusions of $11,000 per year per person ($22,000 if you are married and have your spouse's consent) that are not counted in calculating the gift tax.

A federal tax on the value of gifts received. Similar to income taxes, but with a lower tax rate.

A transfer tax on the privilege of making irrevocable gifts; comparable to prepayment of a portion of the estate tax.

A tax on the transfer of property by one individual to another while receiving nothing or something with a less than equal value in return. The tax applies whether the donor intends the transfer to be a gift or not.

A tax assessed on transfers made by a donor to an individual during life. The gift tax is generally paid by the person making the gift, rather than the recipient. Under current law, an individual can gift $1 million during his lifetime without being taxed. In addition, each year, a donor can make gifts of $11,000 to as many recipients as he wishes without paying taxes.

A tax imposed on the right of an individual to transfer assets during his or her lifetime. Generally paid by the person making the gift, rather than the recipient.

A graduated federal tax paid by a donor upon making a gift.

The part of the Transfer Tax system that requires you to pay tax on certain transfers of assets during your life.

See Federal Gift Tax.

Taxes imposed by the federal government upon the transfer of property or money by gift during lifetime.

A federal tax on gifts in excess of $10,000 per donee per year.

Federal tax on completed gifts from one person to another. Under the Internal Revenue Code, the Gift Tax and the Estate Tax are actually one unified tax, with the same rates applying to each. There is currently an annual exclusion of $11,000 applying to each gift of a present interest from a donor to each donee. Each U.S. resident also has a $1,000,000 liftime Gift Tax Exclusion.

A tax assessed on transfers of property by a person who does not receive fair value in return.

A graduated federal tax paid by donors on gifts exceeding $10,000 per year per donee.

A tax imposed on transfers of property by gift during the donor's lifetime.

A tax imposed by the federal government, and some states, on a person giving money or property to a non-charitable person or organization. The giver owes the tax.

A gift tax is a federal or state transfer tax imposed on a donor when the donor makes a gift of property. In 2005, $11,000 per person per year is exempt from gift tax. Also see "Annual Exclusion."

Federal tax owed on gifts that exceed both the annual limit of $11,000 per recipient and the $1,000,000 lifetime unified credit in 2003 ($1,500,000 in 2004 and 2005). Paying attention to the gift tax is important when setting up a college trust for your child.

The tax levied on the transfer of property by inter vivos gift.

A Federal tax imposed on the (lifetime) transfer of property for less than full consideration.

A graduated tax assessed to a donor by the federal government and most state governments when assets are gifted from one person to another. As the gift's value increases, so does the tax rate. The Economic Recovery Tax Act of 1981 permits a donor to give $10,000 a year per recipient free of the federal gift tax ($20,000 to a married couple). The gift tax is calculated on the dollar value of the asset being transferred above the $10,000 exemption level.

Both federal and state governments have gift tax laws which tax gifts made by one person to another.

A federal tax to be paid if a person receives gifts exceeding a set dollar amount per year.

A tax based on the value of property transferred to others without consideration. The tax is based on the graduated set of rates used for the federal estate tax and is not applicable until the accumulated gifts by a taxpayer exceed the unified credit amount.

A tax levied by the federal government, and some states, on assets transferred from one person to another. The tax rate increases with the value of the gift. The donor pays the tax, not the recipient.

A tax paid on gifts of cash or property. The tax is paid by the donor.

A tax on the value of gifts received by an individual in excess of a certain sum per year and over a certain cumulative amount over a person's lifetime.

A tax on gifts, usually only over $12,000 (2006 amount), to non-charitable beneficiaries. For gifts that exceed the annual gift tax exclusion, the donor is required to file a gift tax return and pay all applicable taxes. The person who receives the gift does not have to pay any gift tax because of it.

Federal tax placed on a gift, monetary or property. The tax is based on the appraised value (if other than monetary) at the time of transfer. Under the law, each person may gift up to $10,000 tax free to another person.

A gift tax is a transfer tax imposed on the value of certain gifts.