C.R.S. § 39-23.5-106 — Tax on generation-skipping transfer - amount - property included in generation-skipping transfer

(1) A tax in an amount determined as provided in this section is imposed on every generation-skipping transfer. (2) The tax shall be an amount determined by multiplying the maximum amount allowable under section 2604 of the internal revenue code by a fraction, the numerator of which is the value of the property located in Colorado included in the generation-skipping transfer and the denominator of which is the value of all property included in the generation-skipping transfer. (3) Property located in Colorado includes real property situated in this state held in trust or otherwise; tangible personal property which has an actual situs in this state; and intangible personal property owned by a trust having its principal place of administration in this state at the time of the generation-skipping transfer. Source: L. 79: Entire article added, p. 1433, § 16, effective July 3. L. 83: (2) amended, p. 1534, § 5, effective July 1. L. 88: (2) amended, p. 1326, § 2, effective April 6.