26 U.S.C. § 2611 | Generation-skipping transfer defined

(a)

In general

For purposes of this chapter, the term “generation-skipping transfer” means—

(1)

a taxable distribution,

(2)

a taxable termination, and

(3)

a direct skip.

(b)

Certain transfers excluded

The term “generation-skipping transfer” does not include—

(1)

any transfer which, if made inter vivos by an individual, would not be treated as a taxable gift by reason of section 2503(e) (relating to exclusion of certain transfers for educational or medical expenses), and

(2)

any transfer to the extent—

(A)

the property transferred was subject to a prior tax imposed under this chapter,

(B)

the transferee in the prior transfer was assigned to the same generation as (or a lower generation than) the generation assignment of the transferee in this transfer, and

(C)

such transfers do not have the effect of avoiding tax under this chapter with respect to any transfer.

Pub. L. 94–455, title XX, § 2006(a)Oct. 4, 197690 Stat. 1882 Pub. L. 99–514, title XIV, § 1431(a)Oct. 22, 1986100 Stat. 2718 Pub. L. 100–647, title INov. 10, 1988102 Stat. 3562(Added , , ; amended , , ; , §§ 1014(g)(1), (2), 1018(u)(43), , , 3592.)

Editorial Notes

Amendments

Pub. L. 100–6471988—Subsec. (a). , §§ 1014(g)(1), 1018(u)(43), substituted “generation-skipping transfer” for “generation-skipping transfers” and “means” for “mean”.

Pub. L. 100–647, § 1014(g)(2)Subsec. (b). , redesignated pars. (2) and (3) as (1) and (2), respectively, and struck out former par. (1) which read as follows: “any transfer (other than a direct skip) from a trust, to the extent such transfer is subject to a tax imposed by chapter 11 or 12 with respect to a person in the 1st generation below that of the grantor, and”.

Pub. L. 99–5141986— amended section generally, substituting provisions defining “generation-skipping transfers” and what that term does not include, for former provisions which defined “generation-skipping transfer”, “transfer”, and “generation-skipping trust”, contained provisions to be used in determining the ascertainment of generation, and provided for a generation-skipping trust equivalent.

Statutory Notes and Related Subsidiaries

Effective Date of 1988 Amendment

Pub. L. 100–647 Pub. L. 99–514 section 1019(a) of Pub. L. 100–647 section 1 of this titleAmendment by effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, , to which such amendment relates, see , set out as a note under .

Effective Date of 1986 Amendment

section 2611 of this titleOct. 22, 1986section 1433 of Pub. L. 99–514 section 2601 of this titleSection applicable to generation-skipping transfers (within the meaning of ) made after , except as otherwise provided, see , set out as a note under .