Per the IRS, the Federal gift tax is a tax on the right to transfer property from a living person to other persons or trusts.
For the latest year available (2011), the Internal Revenue Service reported that 3,040 gift tax returns filed that year listed gifts of $1 million or more (all gifts, including charitable donations). Those 3,040 returns averaged $6,239,000. This was up from only 1,732 million-dollar gifts in 2010, which averaged $3,503,000.
So you’d better be good for goodness sake. And perhaps for a multi-million dollar gift.