26 U.S.C. § 2641 — Applicable rate
submitted 40 years ago by Pub. L. 99-514 to r/title-26-INTERNAL-REVENUE-CODE · 88 words · no verdicts yet
This section sets rules about applicable rate. It states the duties, permissions, limits, or procedures described in the section.
(a) General rule for this chapter, the term “applicable rate” means, about any generation-skipping transfer*, the product of—
(1) the maximum Federal estate tax rate, and
(2) the inclusion ratio about the transfer.
(b) Maximum Federal estate tax rate for subsection (a), the term “maximum Federal estate tax rate” means the maximum rate imposed by section 2001 on the estates of decedents dying at the time of the taxable distribution*, taxable termination*, or direct skip*, as the case can be.
For purposes of this chapter, the term “applicable rate” means, with respect to any generation-skipping transfer*, the product of—
the maximum Federal estate tax rate, and
the inclusion ratio with respect to the transfer.
For purposes of subsection (a), the term “maximum Federal estate tax rate” means the maximum rate imposed by section 2001 on the estates of decedents dying at the time of the taxable distribution*, taxable termination*, or direct skip*, as the case may be.
Source credit: (Added Pub. L. 99–514, title XIV, § 1431(a), Oct. 22, 1986, 100 Stat. 2722.)
- 1986Enacted · Pub. L. 99-514 · 100 Stat. 2722
A history note hasn’t been published yet. The record shows enactment by Pub. L. 99-514 on 1986-10-22.
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