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Different jurisdictions use different terms for the taxes they levy when an individual dies so it isn't possible to make an absolute distinction between estate taxes and inheritance taxes. However, the tax that the federal government levies on larger estates is always called the "Federal Estate Tax". Beyond that, the most valid generalizations are as follows:
- Estate taxes are taxes levied on the value of the assets that were owned by a deceased individual. They are usually paid out of the assets of the estate before the estate is distributed. A number of states levy estate taxes separate from and...