26 U.S.C. § 2621 | Taxable amount in case of taxable distribution

(a)

In general

For purposes of this chapter, the taxable amount in the case of any taxable distribution shall be—

(1)

the value of the property received by the transferee, reduced by

(2)

any expense incurred by the transferee in connection with the determination, collection, or refund of the tax imposed by this chapter with respect to such distribution.

(b)

Payment of GST tax treated as taxable distribution

For purposes of this chapter, if any of the tax imposed by this chapter with respect to any taxable distribution is paid out of the trust, an amount equal to the portion so paid shall be treated as a taxable distribution.

Pub. L. 94–455, title XX, § 2006(a)Oct. 4, 197690 Stat. 1887 Pub. L. 97–34, title IV, § 422(e)(4)Aug. 13, 198195 Stat. 316 Pub. L. 99–514, title XIV, § 1431(a)Oct. 22, 1986100 Stat. 2720(Added , , ; amended , , ; , , .)

Editorial Notes

Amendments

Pub. L. 99–514 section 2661 of this title1986— amended section generally, substituting provisions relating to taxable amount in case of a taxable distribution for former provisions which related generally to administration of this chapter. See .

Pub. L. 97–341981—Subsec. (b). substituted “Section 6166” for “Sections 6166 and 6166A” in heading and “section 6166 (relating to extension of time” for “sections 6166 and 6166A (relating to extensions of time” in text.

Statutory Notes and Related Subsidiaries

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 .

Effective Date of 1981 Amendment

Pub. L. 97–34Dec. 31, 1981section 422(f)(1) of Pub. L. 97–34 section 6166 of this titleAmendment by applicable to estates of decedents dying after , see , set out as a note under .