Transaction tax

(redirected from Uniform Transfer Tax)

Transaction tax

Applies mainly to international equities. Levies on a deal that foreign governments sometimes charge.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Transaction Tax

A tax on a sale of property, especially the sale of a security. This is rarely used in the United States. In 1968, the City of Philadelphia levied a small transaction tax on all shares traded on the Philadelphia Stock Exchange, which caused the Exchange to move to Bala Cynwyd, immediately outside Philadelphia, until the tax was rescinded. More rarely, the term transaction tax may refer to a tax on the transfer of title on any property such as real estate. In this sense, capital gains taxes and estate taxes are transaction taxes. It is also called a transfer tax. See also: Stamp duty.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Under the uniform transfer tax, the rate of tax is the same for gifts made during lifetime as for assets left in the estate on death.
She has already made gifts to her daughter (D) using her full $600,000 uniform transfer tax exemption, but has made no other gifts.

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