§ 2621. Taxable amount in case of taxable distribution
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/usc/title-26/section-2621A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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.
(Added Pub. L. 94–455, title XX, § 2006(a), Oct. 4, 1976, 90 Stat. 1887; amended Pub. L. 97–34, title IV, § 422(e)(4), Aug. 13, 1981, 95 Stat. 316; Pub. L. 99–514, title XIV, § 1431(a), Oct. 22, 1986, 100 Stat. 2720.)
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Cited by 2 sections
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- 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 94–455To reform the tax laws of the United States
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- Pub. L. 94–455, title XX, § 2006(a)
- 90 Stat. 1887
- Pub. L. 97–34, title IV, § 422(e)(4)
- 95 Stat. 316
- Pub. L. 99–514, title XIV, § 1431(a)
- 100 Stat. 2720
- Pub. L. 99–514
- Pub. L. 97–34
- section 1433 of Pub. L. 99–514
- section 422(f)(1) of Pub. L. 97–34
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§ 2621
Taxable amount in case of taxable distribution
Stat.×2
Pub. L.Pub. L. 94–455, title XX, § 2006(a)
Stat.90 Stat. 1887
Pub. L.Pub. L. 97–34, title IV, § 422(e)(4)
Stat.95 Stat. 316
Pub. L.Pub. L. 99–514, title XIV, § 1431(a)
Cites 14 · showing 9Cited by 2 across 1 source