Code of Alabama - Title 40: Revenue and Taxation - Chapter 15A - Generation-skipping Transfer Tax

• Section 40-15A-1 Meaning of "generation-skipping transfer."
  Pursuant to this chapter, the term "generation-skipping transfer" shall have the meaning ascribed to it in Section 2611 of the Internal Revenue Code, as amended...
• Section 40-15A-2 Amount of tax
  Subject to the exception hereinafter stated, there is hereby levied and imposed upon all generation-skipping transfers occurring after December 31, 1987 that involve property subject...
• Section 40-15A-3 Taxable property
  The tax imposed by the provisions of this chapter shall be applicable to the following property: (1) Any intangible personal property of a transferor who...
• Section 40-15A-4 Payment of tax imposed; property to which it is charged
  (a) The tax imposed by this chapter shall be paid by such individual or entity person as is liable for making payment of the federal...
• Section 40-15A-5 Duplicate of federal returns filed with federal authorities; computation by Department of Revenue; disposition of proceeds
  (a) A duplicate of all the returns filed with the federal authorities in connection with the federal generation-skipping transfer tax shall be filed with the...
• Section 40-15A-7 Extenuation of time for payment; payment demand not in excess of total tax
  The tax hereby levied being based and conditioned upon the levy of a similar tax by the United States, in the event that after due...
• Section 40-15A-9 Lien of State
  The State of Alabama shall have a lien for all taxes and interest thereon which are or may become due hereunder on all property subject...
• Section 40-15A-13 Administration of chapter
  The administration of this chapter shall be conducted in accordance with Title 40, Chapter 15. The Department of Revenue shall prescribe the forms and reasonable...
• Section 40-15A-14 Property outside of state
  The Department of Revenue is hereby granted authority to issue regulations setting forth how an allocation of the tax imposed by this chapter shall be...

Last modified: May 3, 2021