What is the Estate Tax Credit?

The US estate tax is a tax imposed on the estate of the deceased by the US federal and some state governments. According to the level of collection, it is divided into federal inheritance tax and state inheritance tax. The U.S. federal inheritance tax uses a total inheritance tax system. The total amount of inheritance at the time of death of the deceased is the taxable object, the executor is the taxpayer, and the amount of taxable inheritance is used as the tax basis. ^[1]