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Internal Revenue Code · 26 U.S.C.

§ 2621. Taxable amount in case of taxable distribution

In force Text current through Public Law 119-121 (October 9, 2026) release point 119-121

Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).

Cite as 26 U.S.C. § 2621

At a glance

Read from the text, the source credit and the official notes. Not part of the law.

Status
In force
Added
October 4, 1976 by Pub. L. 94–455
Last amended
October 22, 1986 by Pub. L. 99–514
Amendments
2 dated changes in the source credit
Length
2 subsections · 147 words · about 1 min to read
Cross-references
cites 0; cited by 1 Code section and 1 other regulation
(a) In general For purposes of this chapter, the taxable amount in the case of any taxable distribution shall be—
(1) the value of the property received by the transferee, reduced by
(2) any expense incurred by the transferee in connection with the determination, collection, or refund of the tax imposed by this chapter with respect to such distribution.
(b) Payment of GST tax treated as taxable distribution

For purposes of this chapter, if any of the tax imposed by this chapter with respect to any taxable distribution is paid out of the trust, an amount equal to the portion so paid shall be treated as a taxable distribution.

(Added Pub. L. 94–455, title XX, § 2006(a), Oct. 4, 1976, 90 Stat. 1887; amended Pub. L. 97–34, title IV, § 422(e)(4), Aug. 13, 1981, 95 Stat. 316; Pub. L. 99–514, title XIV, § 1431(a), Oct. 22, 1986, 100 Stat. 2720.)

Cross-references

Computed from the citations in the text of Title 26 and 26 CFR.

Cited by 1 Code section

Cited in 1 regulation not issued under it

Amendment history

From the source credit and the official notes, newest first.

  1. Amended by Pub. L. 99–514
  2. Amended by Pub. L. 97–34Parts changed in 1981: (b)
  3. Added by Pub. L. 94–455

Where it sits in the Code

  1. Subtitle B Estate and Gift Taxes
  2. Chapter 13 TAX ON GENERATION-SKIPPING TRANSFERS
  3. Subchapter C Taxable Amount

Nearby sections

Official notes

Show the Law Revision Counsel's notes (amendments, effective dates)

Editorial Notes

Amendments

1986—Pub. L. 99–514 amended section generally, substituting provisions relating to taxable amount in case of a taxable distribution for former provisions which related generally to administration of this chapter. See section 2661 of this title.

1981—Subsec. (b). Pub. L. 97–34 substituted “Section 6166” for “Sections 6166 and 6166A” in heading and “section 6166 (relating to extension of time” for “sections 6166 and 6166A (relating to extensions of time” in text.

Statutory Notes and Related Subsidiaries

Effective Date of 1986 Amendment

Section applicable to generation-skipping transfers (within the meaning of section 2611 of this title) made after Oct. 22, 1986, except as otherwise provided, see section 1433 of Pub. L. 99–514, set out as a note under section 2601 of this title.

Effective Date of 1981 Amendment

Amendment by Pub. L. 97–34 applicable to estates of decedents dying after Dec. 31, 1981, see section 422(f)(1) of Pub. L. 97–34, set out as a note under section 6166 of this title.