IRC §2623. Taxable amount in case of direct skip

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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– 4, title XIV, §1431(a), Oct. 22, 1986, 100 Stat. 2721.)

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– 4, set out as a note under section 2601 of this title.