For purposes of this chapter, the term “generation-skipping transfer” means—
(1)a taxable distribution,
(2)a taxable termination, and
(3)a direct skip.
(b) Certain transfers excluded
The term “generation-skipping transfer” does not include—
(1)any transfer which, if made inter vivos by an individual, would not be treated as a taxable gift by reason of section
2503(e) (relating to exclusion of certain transfers for educational or medical expenses), and
(2)any transfer to the extent—
(A)the property transferred was subject to a prior tax imposed under this chapter,
(B)the transferee in the prior transfer was assigned to the same generation as (or a lower generation than) the generation assignment of the transferee in this transfer, and
(C)such transfers do not have the effect of avoiding tax under this chapter with respect to any transfer.
1988—Subsec. (a). Pub. L. 100–647, §§ 1014(g)(1),
1018(u)(43), substituted “generation-skipping transfer” for “generation-skipping transfers” and “means” for “mean”.
Subsec. (b). Pub. L. 100–647, § 1014(g)(2), redesignated pars. (2) and (3) as (1) and (2), respectively, and struck out former par. (1) which read as follows: “any transfer (other than a direct skip) from a trust, to the extent such transfer is subject to a tax imposed by chapter 11 or 12 with respect to a person in the 1st generation below that of the grantor, and”.
1986—Pub. L. 99–514amended section generally, substituting provisions defining “generation-skipping transfers” and what that term does not include, for former provisions which defined “generation-skipping transfer”, “transfer”, and “generation-skipping trust”, contained provisions to be used in determining the ascertainment of generation, and provided for a generation-skipping trust equivalent.
Effective Date of 1988 Amendment
Amendment by Pub. L. 100–647effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 1019(a) ofPub. L. 100–647, set out as a note under section
1 of this title.
Effective Date of 1986 Amendment
Section applicable to generation-skipping transfers (within the meaning of section
2611 of this title) made after Oct. 22, 1986, except as otherwise provided, see section 1433 ofPub. L. 99–514, set out as a note under section
2601 of this title.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
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