Inheritance tax is levied on which of the following?

Inheritance tax is assessed on the wealth that an individual receives from a deceased person's estate. This tax is imposed specifically on the beneficiaries who inherit assets. Each beneficiary may have a different tax obligation based on the value of what they receive, which is influenced by the amount of the inheritance and the applicable tax rates.

This tax is distinct from estate tax, which is levied on the total value of a deceased person's estate before distribution. Inheritance tax focuses on the recipient of the assets rather than the estate itself or the property prior to distribution. Understanding this distinction clarifies why the correct answer is centered on the individual receiving the inheritance rather than the estate or property itself.