Unified tax credit

Unified tax credit
Definition:
A federal tax credit that reduces tax liability, dollar for dollar, on lifetime gifts and asset transfers at death. ...

Unified tax credits are a form of federal tax credit that may be used to offset the amount of estate or gift tax incurred within a given tax period.

Unified tax credit
A federal tax credit that reduces tax liability, dollar for dollar, on lifetime gifts and asset transfers at death.
Uniform Commercial Code (UCC)
Collection of laws dealing with commercial business.

Unified Tax Credit A federal tax credit that may be used in certain cases to offset the gift tax,... Uniform Commercial Code UCC.

See also: Liability, Asset, Close, Interest, Cover