taxable estate

taxable estate definition - business

taxable estate

The adjusted gross estate less any allowable marital deduction or charitable deductions. The taxable estate is the base on which the estate tax is calculated, although the actual tax due will be affected by any state death taxes and gift taxes that have been assessed.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.