For purposes of this chapter, the term “applicable rate” means, with respect to any generation-skipping transfer, the product of—
(1)the maximum Federal estate tax rate, and
(2)the inclusion ratio with respect to the transfer.
(b) Maximum Federal estate tax rate
For purposes of subsection (a), the term “maximum Federal estate tax rate” means the maximum rate imposed by section
2001 on the estates of decedents dying at the time of the taxable distribution, taxable termination, or direct skip, as the case may be.
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.
Modification of Generation-Skipping Transfer Tax
Pub. L. 111–312, title III, § 302(c),Dec. 17, 2010, 124 Stat. 3302, provided that: “In the case of any generation-skipping transfer made after December 31, 2009, and before January 1, 2011, the applicable rate determined under section 2641(a) of the Internal Revenue Code of 1986 shall be zero.”
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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