In the case of a taxable distribution, the tax imposed by section 2601 shall be paid by the transferee.
In the case of a taxable termination or a direct skip from a trust, the tax shall be paid by the trustee.
In the case of a direct skip (other than a direct skip from a trust), the tax shall be paid by the transferor.
Unless otherwise directed pursuant to the governing instrument by specific reference to the tax imposed by this chapter, the tax imposed by this chapter on a generation-skipping transfer shall be charged to the property constituting such transfer.
(Added Pub. L. 94–455, title XX, §2006(a), Oct. 4, 1976, 90 Stat. 1881; amended Pub. L. 99–514, title XIV, §1431(a), Oct. 22, 1986, 100 Stat. 2718.)
Sections: Previous 2518 2519 2522 2523 2524 2601 2602 2603 2604 2611 2612 2613 2621 2622 2623 Next
Last modified: October 26, 2015