26 U.S.C. § 2603 — Liability for tax
submitted 50 years ago by Pub. L. 94-455 to r/title-26-INTERNAL-REVENUE-CODE · 148 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
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.
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.
Source credit: (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.)
- 1976Enacted · Pub. L. 94-455 · 90 Stat. 1881
- 1986Amended · Pub. L. 99-514 · 100 Stat. 2718
A history note hasn’t been published yet. The record shows enactment by Pub. L. 94-455 on 1976-10-04.
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