General rule
For purposes of this chapter, the term “applicable rate” means, with respect to any generation-skipping transfer, the product of—
the maximum Federal estate tax rate, and
the inclusion ratio with respect to the transfer.
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.
Pub. L. 99–514, title XIV, § 1431(a)100 Stat. 2722(Added , , .)
Statutory Notes and Related Subsidiaries
Effective Date
section 2611 of this titlesection 1433 of Pub. L. 99–514section 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 .
Modification of Generation-Skipping Transfer Tax
Pub. L. 111–312, title III, § 302(c)124 Stat. 3302
“In the case of any generation-skipping transfer made after , and before , the applicable rate determined under section 2641(a) of the Internal Revenue Code of 1986 shall be zero.”
, , , provided that: