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26 U.S.C. § 2603 — Liability for tax
Federal law — U.S. Code and appendices · legal_authorities
**(a) Personal liability**
(1) **Taxable distributions** — In the case of a taxable distribution, the tax imposed by section 2601 shall be paid by the transferee.
(2) **Taxable termination** — In the case of a taxable termination or a direct skip from a trust, the tax shall be paid by the trustee.
(3) **Direct skip** — In the case of a direct skip (other than a direct skip from a trust), the tax shall be paid by the transferor.
**(b) Source of tax** 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.
**(c) Cross reference** For provisions making estate and gift tax provisions with respect to transferee liability, liens, and related matters applicable to the tax imposed by section 2601, see section 2661.
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Stable record: federal_law:legal_authorities:record_usc_27b0b34eda3e8898073d59fc
Source file: Laws/federal/codes/united-states-code/title-26/section-2603-liability-for-tax--ab2a4f5d71.md
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Source location: Title 26, Chapter 13, § 2603; chapter-013-tax-on-generation-skipping-transfers.md
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**(a) Personal liability**
(1) **Taxable distributions** — In the case of a taxable distribution, the tax imposed by section 2601 shall be paid by the transferee.
(2) **Taxable termination** — In the case of a taxable termination or a direct skip from a trust, the tax shall be paid by the trustee.
(3) **Direct skip** — In the case of a direct skip (other than a direct skip from a trust), the tax shall be paid by the transferor.
**(b) Source of tax** 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.
**(c) Cross reference** For provisions making estate and gift tax provisions with respect to transferee liability, liens, and related matters applicable to the tax imposed by section 2601, see section 2661.
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Federal law — U.S. Code and appendices · legal_authorities
A tax is hereby imposed on every generation-skipping transfer (within the meaning of subchapter B).
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 2601
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** 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.
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 2611
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Federal law — U.S. Code and appendices · legal_authorities
Page 2653
TITLE 26—INTERNAL REVENUE CODE
[§ 2604
Code of 1986, the provisions of such subsection (d) shall
apply.’’
[Amendment of section 2006(c) of Pub. L. 94–455, set
out above, by section 702(n)(1) of Pub. L. 95–600, effec-
tive Oct. 4, 1976, see section 702(n)(5) of Pub. L. 95–600,
set out as an Effective Date of 1978 Amendment note
under section 2613 of this title.]
§ 2602. Amount of tax
The amount of the tax imposed by section 2601
is—
(1) the taxable amount (determined under
subchapter C), multiplied by
(2) the applicable rate (determined under
subchapter E).
(Added Pub. L. 94–455, title XX, § 2006(a), Oct. 4,
1976, 90 Stat. 1879; amended Pub. L. 95–600, title
VII, § 702(h)(2), (n)(4), Nov. 6, 1978, 92 Stat. 2931,
2936; Pub. L. 97–34, title IV, § 403(a)(2)(B), Aug. 13,
1981, 95 Stat. 301; Pub. L. 99–514, title XIV,
§ 1431(a), Oct. 22, 1986, 100 Stat. 2718.)
Editorial Notes
AMENDMENTS
1986—Pub. L. 99–514 amended section generally, sub-
stituting provisions that amount of tax imposed by sec-
tion 2601 is the taxable amount (determined under sub-
chapter C), multiplied by the applicable rate (deter-
mined under subchapter E) for former provisions which
set out in detail the calculations and formulae for de-
termining amount of tax imposed by section 2601.
1981—Subsec. (c)(5). Pub. L. 97–34 redesignated sub-
pars. (B) and (C) as (A) and (B), respectively, and struck
out former subpar. (A) relating to adjustments to mar-
ital deduction and providing that if the generation-
skipping transfer occurs at the same time as, or within
9 months after, the death of the deemed transferor, for
purposes of section 2056, relating to bequests, etc., to
surviving spouse, the value of the gross estate of the
deemed transferor shall be deemed to be increased b
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 2603
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