An '''estate tax''' or '''inheritance tax''' is a [[tax]] on the privilege of transferring [[property]] to others after a person's death. In addition to federal estate taxes, many states have their own estate taxes. Conservatives dislike it estate taxes and call it a them ''death taxtaxes''.
The Federal and state governments levy estate taxes in the U.S. As per legislation passed in 2001 and 2003, the federal tax is zero in 2010, and will return to 55% on sums over $2 million in 2011. There will be no tax on the first $1 million.