26 U.S.C. § 2641
§ 2641. Applicable rate
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Added in 1986 by the Tax Reform Act of 1986. Last changed October 22, 1986 by the Tax Reform Act of 1986.
Every change, newest first (1)
- October 22, 1986Tax Reform Act of 1986 · added this section
The law as written
Current through Public Law 119-102. Amendment notes omitted.
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.
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.