
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC2602]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                    Subtitle B--Estate and Gift Taxes
 
            CHAPTER 13--TAX ON GENERATION-SKIPPING TRANSFERS
 
                        Subchapter A--Tax Imposed
 
Sec. 2602. Amount of tax

    The amount of the tax imposed by section 2601 is--
        (1) the taxable amount (determined under subchapter C), 
    multiplied by
        (2) the applicable rate (determined under subchapter E).

(Added Pub. L. 94-455, title XX, Sec. 2006(a), Oct. 4, 1976, 90 Stat. 
1879; amended Pub. L. 95-600, title VII, Sec. 702(h)(2), (n)(4), Nov. 6, 
1978, 92 Stat. 2931, 2936; Pub. L. 97-34, title IV, Sec. 403(a)(2)(B), 
Aug. 13, 1981, 95 Stat. 301; Pub. L. 99-514, title XIV, Sec. 1431(a), 
Oct. 22, 1986, 100 Stat. 2718.)


                               Amendments

    1986--Pub. L. 99-514 amended section generally, substituting 
provisions that amount of tax imposed by section 2601 is the taxable 
amount (determined under subchapter C), multiplied by the applicable 
rate (determined under subchapter E) for former provisions which set out 
in detail the calculations and formulae for determining amount of tax 
imposed by section 2601.
    1981--Subsec. (c)(5). Pub. L. 97-34 redesignated subpars. (B) and 
(C) as (A) and (B), respectively, and struck out former subpar. (A) 
relating to adjustments to marital deduction and providing that if the 
generation-skipping transfer occurs at the same time as, or within 9 
months after, the death of the deemed transferor, for purposes of 
section 2056, relating to bequests, etc., to surviving spouse, the value 
of the gross estate of the deemed transferor shall be deemed to be 
increased by the amount of such transfer.
    1978--Subsec. (a)(1)(C). Pub. L. 95-600, Sec. 702(h)(2), inserted 
``, as modified by section 2001(e)'' after ``within the meaning of 
section 2001(b)''.
    Subsec. (d)(1)(A). Pub. L. 95-600, Sec. 702(n)(4)(A), inserted ``(or 
at the same time as the death of a beneficiary of the trust assigned to 
a higher generation than such deemed transferor)'' after ``such deemed 
transferor''.
    Subsec. (d)(2)(A). Pub. L. 95-600, Sec. 702(n)(4)(B), inserted ``(or 
beneficiary)'' after ``the deemed transferor''.


                    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, but inapplicable under certain conditions under 
will executed before date which is 30 days after Aug. 13, 1981, or under 
trust created by such date, see section 403(e) of Pub. L. 97-34, set out 
as a note under section 2056 of this title.


                    Effective Date of 1978 Amendment

    Amendment by section 702(h)(2) of Pub. L. 95-600 applicable to 
estates of decedents dying after Dec. 31, 1976, except that such 
amendment shall not apply to transfers made before Jan. 1, 1977, see 
section 702(h)(3) of Pub. L. 95-600, set out as a note under section 
2001 of this title.
    Amendment by section 702(n)(4) of Pub. L. 95-600 effective as if 
included in this chapter as added by section 2006 of Pub. L. 94-455, see 
section 702(n)(5) of Pub. L. 95-600, set out as a note under section 
2613 of this title.
