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Internal Revenue Code (Title 26 U.S.C.)

26 U.S.C. § 2603

Liability for tax

Official textgovinfo.govlast amended

# (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.

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Nearby sections (25 sections)
  1. 2515 · Treatment of generation-skipping transfer tax
  2. 2515A · [§2515A. Repealed. Pub. L. 97–34, title IV, §403(c)(3)(B), Aug.…
  3. 2516 · Certain property settlements
  4. 2517 · [§2517. Repealed. Pub. L. 99–514, title XVIII, §1852(e)(2)(A),…
  5. 2518 · Disclaimers
  6. 2519 · Dispositions of certain life estates
  7. 2521 · [§2521. Repealed. Pub. L. 94–455, title XX, §2001(b)(3), Oct. 4,…
  8. 2522 · Charitable and similar gifts
  9. 2523 · Gift to spouse
  10. 2524 · Extent of deductions
  11. 2601 · Tax imposed
  12. 2602 · Amount of tax
  13. 2603 · Liability for tax
  14. 2604 · [§2604. Repealed. Pub. L. 113–295, div. A, title II,…
  15. 2611 · Generation-skipping transfer defined
  16. 2612 · Taxable termination; taxable distribution; direct skip
  17. 2613 · Skip person and non-skip person defined
  18. 2614 · [§2614. Omitted]
  19. 2621 · Taxable amount in case of taxable distribution
  20. 2622 · Taxable amount in case of taxable termination
  21. 2623 · Taxable amount in case of direct skip
  22. 2624 · Valuation
  23. 2631 · GST exemption
  24. 2632 · Special rules for allocation of GST exemption
  25. 2641 · Applicable rate
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