§ 2502. Rate of tax
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/usc/title-26/section-2502A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Computation of tax The tax imposed by section 2501 for each calendar year shall be an amount equal to the excess of—
(1)a tentative tax, computed under section 2001(c), on the aggregate sum of the taxable gifts for such calendar year and for each of the preceding calendar periods, over
(2)a tentative tax, computed under such section, on the aggregate sum of the taxable gifts for each of the preceding calendar periods.
(b)Preceding calendar period Whenever used in this title in connection with the gift tax imposed by this chapter, the term “preceding calendar period” means—
(1)calendar years 1932 and 1970 and all calendar years intervening between calendar year 1932 and calendar year 1970,
(2)the first calendar quarter of calendar year 1971 and all calendar quarters intervening between such calendar quarter and the first calendar quarter of calendar year 1982, and
(3)all calendar years after 1981 and before the calendar year for which the tax is being computed.
For purposes of paragraph (1), the term “calendar year 1932” includes only that portion of such year after June 6, 1932.
(c)Tax to be paid by donor The tax imposed by section 2501 shall be paid by the donor.
(Aug. 16, 1954, ch. 736, 68A Stat. 403; Pub. L. 91–614, title I, § 102(a)(2), Dec. 31, 1970, 84 Stat. 1839; Pub. L. 94–455, title XX, § 2001(b)(1), Oct. 4, 1976, 90 Stat. 1849; Pub. L. 97–34, title IV, § 442(a)(2), Aug. 13, 1981, 95 Stat. 320; Pub. L. 100–203, title X, § 10401(b)(2)(B), Dec. 22, 1987, 101 Stat. 1330–431; Pub. L. 107–16, title V, § 511(d), June 7, 2001, 115 Stat. 70; Pub. L. 111–312, title III, § 302(b)(2), Dec. 17, 2010, 124 Stat. 3301.)
Connections7 cite this · traces to 6
Cited by 7 sections · top 6
statutes-at-large
- Public Law 111–312To amend the Internal Revenue Code of 1986 to extend the funding and expenditure authority of the Airport and Airway Trust Fund, to amend title 49, United States Code, to extend authorizations for the airport improvement program, and for other purposes
- Public Law 97–34To amend the Internal Revenue Code of 1954 to encourage economic growth through reduction of the tax rates for individual taxpayers, acceleration of capital cost recovery of investment in plant, equipment, and real property, and incentives for savings, and for other purposes
- Public Law 107–16To provide for reconciliation pursuant to section 104 of the concurrent resolution on the budget for fiscal year 2002
- Public Law 94–455To reform the tax laws of the United States
31 references not yet in our index
- Aug. 16, 1954, ch. 736
- 68A Stat. 403
- Pub. L. 91–614, title I, § 102(a)(2)
- 84 Stat. 1839
- Pub. L. 94–455, title XX, § 2001(b)(1)
- 90 Stat. 1849
- Pub. L. 97–34, title IV, § 442(a)(2)
- 95 Stat. 320
- Pub. L. 100–203, title X, § 10401(b)(2)(B)
- 101 Stat. 1330–431
- Pub. L. 107–16, title V, § 511(d)
- 115 Stat. 70
- Pub. L. 111–312, title III, § 302(b)(2)
- 124 Stat. 3301
- Pub. L. 111–312
- Pub. L. 107–16, § 511(d)
- Pub. L. 100–203, § 10401(b)(2)(B)(i)
- Pub. L. 100–203, § 10401(b)(2)(B)(ii)
- Pub. L. 97–34
- Pub. L. 94–455
- Pub. L. 91–614, § 102(a)(2)(A)
- Pub. L. 91–614, § 102(a)(2)(B)
- Pub. L. 107–16, title V, § 511(f)(3)
- 115 Stat. 71
- Pub. L. 100–203
- section 10401(c) of Pub. L. 100–203
- section 442(e) of Pub. L. 97–34
- Pub. L. 94–455, title XX, § 2001(d)(2)
- 90 Stat. 1854
- Pub. L. 91–614
- section 102(e) of Pub. L. 91–614
Citation graph
cites case law
§ 2502
Rate of tax
Stat.×5
U.S.C.×2
ActAug. 16, 1954, ch. 736
Stat.68A Stat. 403
Pub. L.Pub. L. 91–614, title I, § 102(a)(2)
Stat.84 Stat. 1839
Pub. L.Pub. L. 94–455, title XX, § 2001(b)(1)
Cites 37 · showing 11Cited by 7 across 2 sources