Internal Revenue Code:Sec. 2602. Amount of tax

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Location in Internal Revenue Code

     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle B - Estate and Gift Taxes
       CHAPTER 13 - TAX ON GENERATION-SKIPPING TRANSFERS
        Subchapter A - Tax Imposed
      

Statute

    Sec. 2602. Amount of tax
 
      The amount of the tax imposed by section 2601 is -
        (1) the taxable amount (determined under subchapter C),
      multiplied by
        (2) the applicable rate (determined under subchapter E).
 

Sources

    (Added Pub. L. 94-455, title XX, Sec. 2006(a), Oct. 4, 1976, 90
    Stat. 1879; amended Pub. L. 95-600, title VII, Sec. 702(h)(2),
    (n)(4), Nov. 6, 1978, 92 Stat. 2931, 2936; Pub. L. 97-34, title IV,
    Sec. 403(a)(2)(B), Aug. 13, 1981, 95 Stat. 301; Pub. L. 99-514,
    title XIV, Sec. 1431(a), Oct. 22, 1986, 100 Stat. 2718.)
 

Miscellaneous

                                 AMENDMENTS
      1986 - Pub. L. 99-514 amended section generally, substituting
    provisions that amount of tax imposed by section 2601 is the
    taxable amount (determined under subchapter C), multiplied by the
    applicable rate (determined under subchapter E) for former
    provisions which set out in detail the calculations and formulae
    for determining amount of tax imposed by section 2601.
      1981 - Subsec. (c)(5). Pub. L. 97-34 redesignated subpars. (B)
    and (C) as (A) and (B), respectively, and struck out former subpar.
    (A) relating to adjustments to marital deduction and providing that
    if the generation-skipping transfer occurs at the same time as, or
    within 9 months after, the death of the deemed transferor, for
    purposes of section 2056, relating to bequests, etc., to surviving
    spouse, the value of the gross estate of the deemed transferor
    shall be deemed to be increased by the amount of such transfer.
      1978 - Subsec. (a)(1)(C). Pub. L. 95-600, Sec. 702(h)(2),
    inserted '', as modified by section 2001(e)'' after ''within the
    meaning of section 2001(b)''.
      Subsec. (d)(1)(A). Pub. L. 95-600, Sec. 702(n)(4)(A), inserted
    ''(or at the same time as the death of a beneficiary of the trust
    assigned to a higher generation than such deemed transferor)''
    after ''such deemed transferor''.
      Subsec. (d)(2)(A). Pub. L. 95-600, Sec. 702(n)(4)(B), inserted
    ''(or beneficiary)'' after ''the deemed transferor''.
                      EFFECTIVE DATE OF 1986 AMENDMENT
      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.
                      EFFECTIVE DATE OF 1981 AMENDMENT
      Amendment by Pub. L. 97-34 applicable to estates of decedents
    dying after Dec. 31, 1981, but inapplicable under certain
    conditions under will executed before date which is 30 days after
    Aug. 13, 1981, or under trust created by such date, see section
    403(e) of Pub. L. 97-34, set out as a note under section 2056 of
    this title.
                      EFFECTIVE DATE OF 1978 AMENDMENT
      Amendment by section 702(h)(2) of Pub. L. 95-600 applicable to
    estates of decedents dying after Dec. 31, 1976, except that such
    amendment shall not apply to transfers made before Jan. 1, 1977,
    see section 702(h)(3) of Pub. L. 95-600, set out as a note under
    section 2001 of this title.
      Amendment by section 702(n)(4) of Pub. L. 95-600 effective as if
    included in this chapter as added by section 2006 of Pub. L.
    94-455, see section 702(n)(5) of Pub. L. 95-600, set out as a note
    under section 2613 of this title.