26 U.S.C. § 2511
§ 2511. Transfers in general
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Part of the code since 1954. Last changed December 17, 2010 by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.
Every change, newest first (5)
- December 17, 2010Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010
- March 9, 2002Public Law 107-147
- June 7, 2001Economic Growth and Tax Relief Reconciliation Act of 2001
- November 13, 1966Public Law 89-809
- August 16, 1954Internal Revenue Code of 1954 (original text)
The law as written
Current through Public Law 119-102. Amendment notes omitted.
Structure
Subject to the limitations contained in this chapter, the tax imposed by section 2501 shall apply whether the transfer is in trust or otherwise, whether the gift is direct or indirect, and whether the property is real or personal, tangible or intangible; but in the case of a nonresident not a citizen of the United States, shall apply to a transfer only if the property is situated within the United States.
For purposes of this chapter, in the case of a nonresident not a citizen of the United States who is excepted from the application of section 2501(a)(2)—
shares of stock issued by a domestic corporation, and
debt obligations of—
a United States person, or
the United States, a State or any political subdivision thereof, or the District of Columbia,
which are owned and held by such nonresident shall be deemed to be property situated within the United States.