Internal Revenue Code:Sec. 2641. Applicable rate
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Contents |
Location in Internal Revenue Code
TITLE 26 - INTERNAL REVENUE CODE
Subtitle B - Estate and Gift Taxes
CHAPTER 13 - TAX ON GENERATION-SKIPPING TRANSFERS
Subchapter E - Applicable Rate; Inclusion Ratio
Statute
Sec. 2641. Applicable rate
(a) General rule
For purposes of this chapter, the term ''applicable rate'' means,
with respect to any generation-skipping transfer, the product of -
(1) the maximum Federal estate tax rate, and
(2) the inclusion ratio with respect to the transfer.
(b) Maximum Federal estate tax rate
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.
Sources
(Added Pub. L. 99-514, title XIV, Sec. 1431(a), Oct. 22, 1986, 100
Stat. 2722.)
Miscellaneous
EFFECTIVE DATE
Section applicable to generation-skipping transfers (within the
meaning of section 2611 of this title) made after Oct. 22, 1986,
except as otherwise provided, see section 1433 of Pub. L. 99-514,
set out as a note under section 2601 of this title.
