26 U.S.C. § 2621 — Taxable amount in case of taxable distribution

submitted 50 years ago by Pub. L. 94-455 to r/title-26-INTERNAL-REVENUE-CODE · 109 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

the actual law source: uscode.house.gov ↗public domain

(a) In general

For purposes of this chapter, the taxable amount in the case of any taxable distribution shall be—

(1)

the value of the property received by the transferee, reduced by

(2)

any expense incurred by the transferee in connection with the determination, collection, or refund of the tax imposed by this chapter with respect to such distribution.

(b) Payment of GST tax treated as taxable distribution

For purposes of this chapter, if any of the tax imposed by this chapter with respect to any taxable distribution is paid out of the trust, an amount equal to the portion so paid shall be treated as a taxable distribution.

Source credit: (Added Pub. L. 94–455, title XX, § 2006(a), Oct. 4, 1976, 90 Stat. 1887; amended Pub. L. 97–34, title IV, § 422(e)(4), Aug. 13, 1981, 95 Stat. 316; Pub. L. 99–514, title XIV, § 1431(a), Oct. 22, 1986, 100 Stat. 2720.)

history & why it existsrecord from the source credit

1976Enacted · Pub. L. 94-455 · 90 Stat. 1887
1981Amended · Pub. L. 97-34 · 95 Stat. 316
1986Amended · Pub. L. 99-514 · 100 Stat. 2720

A history note hasn’t been published yet. The record shows enactment by Pub. L. 94-455 on 1976-10-04.

all 0 arguments · sorted by: best

no arguments yet — make the first case