Definitions for "Gift taxes"
Taxes imposed by the federal government and some state governments on lifetime gifts. Federal gift taxes are designed so that lifetime gifts are taxed in a similar way as gifts at death are taxed by the federal estate tax.
The Federal tax on gifts paid by the person making the gift rather than the recipient.
A federal tax levied on the transfer of property as a gift. This tax is paid by the donor. The first $12,000 a year from a donor to each recipient is exempt from tax. Most states also impose a gift tax. The gift tax exemption is indexed annually for inflation.
Keywords:  golden, argument, rule
Golden Rule Argument