§ 2603. Liability for tax
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/usc/title-26/section-2603A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Personal liability
(1)Taxable distributions In the case of a taxable distribution, the tax imposed by section 2601 shall be paid by the transferee.
(2)Taxable termination In the case of a taxable termination or a direct skip from a trust, the tax shall be paid by the trustee.
(3)Direct skip In the case of a direct skip (other than a direct skip from a trust), the tax shall be paid by the transferor.
(b)Source of tax Unless otherwise directed pursuant to the governing instrument by specific reference to the tax imposed by this chapter, the tax imposed by this chapter on a generation-skipping transfer shall be charged to the property constituting such transfer.
(c)Cross reference For provisions making estate and gift tax provisions with respect to transferee liability, liens, and related matters applicable to the tax imposed by section 2601, see section 2661.
(Added Pub. L. 94–455, title XX, § 2006(a), Oct. 4, 1976, 90 Stat. 1881; amended Pub. L. 99–514, title XIV, § 1431(a), Oct. 22, 1986, 100 Stat. 2718.)
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6 references not yet in our index
- Pub. L. 94–455, title XX, § 2006(a)
- 90 Stat. 1881
- Pub. L. 99–514, title XIV, § 1431(a)
- 100 Stat. 2718
- Pub. L. 99–514
- section 1433 of Pub. L. 99–514
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§ 2603
Liability for tax
Stat.×1
Pub. L.Pub. L. 94–455, title XX, § 2006(a)
Stat.90 Stat. 1881
Pub. L.Pub. L. 99–514, title XIV, § 1431(a)
Stat.100 Stat. 2718
Pub. L.Pub. L. 99–514
Cites 8 · showing 7Cited by 1 across 1 source