The Tax Cut of 2001

A) permanently eliminated the inheritance tax.
B) lowered the minimum marginal tax rate from 15 percent to 10 percent.
C) will lower the top marginal tax rate to 23 percent by the end of the decade.
D) expires in 2006.

Inheritance Tax

A tax imposed on individuals who inherit assets or property from a deceased person.

Marginal Tax Rate

The percentage of tax applied to your income for each additional dollar of income, representing the rate at which your last dollar of income is taxed.