Gift Tax, sometimes confused with Inheritance / Estate Tax, is a tax on the transfer of cash/asset/property by one person to another while receiving nothing in return. The tax applies whether the donor intends the transfer to be a gift or not. The Gift Tax and Estate Tax are interrelated. The IRS allows you to give up to $14,000 per year to any number of people without incurring any gift taxes.
Gift Tax in the United States (State by State)