26 U.S.C. § 2603
§ 2603. Liability for tax
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
The law as written
Current through Public Law 119-102. Amendment notes omitted.
In the case of a taxable distribution, the tax imposed by section 2601 shall be paid by the transferee.
In the case of a taxable termination or a direct skip from a trust, the tax shall be paid by the trustee.
In the case of a direct skip (other than a direct skip from a trust), the tax shall be paid by the transferor.
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.