Estate Income Tax
Estate income tax is a tax imposed on any income should it be earned by the Estate of a deceased person.
This type of income can include interest, dividends, rental income, and other types of earnings the deceased was previously receiving.
The tax rate for estate income tax varies depending on the amount of income earned by the estate and the tax laws in the state where the estate is located.
Estate income tax is different from individual income tax in that individual income tax is based on the income earned during a person's lifetime, while estate income tax is based on the income earned by an estate after a person's death.
Additionally, estate income tax is different from an Estate Tax, which is a tax on the total value of an estate.
Estate income tax is also known as Fiduciary Tax Return.