Internal Revenue Code:Sec. 2515. Treatment of generation-skipping transfer tax
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Location in Internal Revenue Code
TITLE 26 - INTERNAL REVENUE CODE
Subtitle B - Estate and Gift Taxes
CHAPTER 12 - GIFT TAX
Subchapter B - Transfers
Statute
Sec. 2515. Treatment of generation-skipping transfer tax
In the case of any taxable gift which is a direct skip (within
the meaning of chapter 13), the amount of such gift shall be
increased by the amount of any tax imposed on the transferor under
chapter 13 with respect to such gift.
Sources
(Added Pub. L. 99-514, title XIV, Sec. 1432(d)(1), Oct. 22, 1986,
100 Stat. 2730.)
Miscellaneous
PRIOR PROVISIONS
A prior section, acts Aug. 16, 1954, ch. 736, 68A Stat. 409; Dec.
31, 1970, Pub. L. 91-614, title I, Sec. 102(b)(3), 84 Stat. 1841;
Oct. 4, 1976, Pub. L. 94-455, title XX, Sec. 2002(c)(2), 90 Stat.
1855; Nov. 6, 1978, Pub. L. 95-600, title VII, Sec. 702(k)(1)(B),
92 Stat. 2932, related to tenancies by the entirety in real
property, prior to repeal applicable to gifts made after Dec. 31,
1981, by Pub. L. 97-34, title IV, Sec. 403(c)(3)(B), (e)(2), Aug.
13, 1981, 95 Stat. 302, 305.
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.
