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Internal Revenue Code · 26 U.S.C.

§ 2623. Taxable amount in case of direct skip

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. § 2623

At a glance

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

Status
In force
Added
October 22, 1986 by Pub. L. 99–514
Length
40 words · about 1 min to read

For purposes of this chapter, the taxable amount in the case of a direct skip shall be the value of the property received by the trans­feree.

(Added Pub. L. 99–514, title XIV, § 1431(a), Oct. 22, 1986, 100 Stat. 2721.)

Amendment history

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

  1. Added by Pub. L. 99–514

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)

Statutory Notes and Related Subsidiaries

Effective Date

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.