2017—Subsec. (g). Pub. L. 115–97 amended subsec. (g) generally. Prior to amendment, text read as follows: “For purposes of applying subsection (b)(2) with respect to 1 or more gifts, the rates of tax under subsection (c) in effect at the decedent’s death shall, in lieu of the rates of tax in effect at the time of such gifts, be used both to compute—
“(1) the tax imposed by chapter 12 with respect to such gifts, and
“(2) the credit allowed against such tax under section 2505, including in computing—
“(A) the applicable credit amount under section 2505(a)(1), and
“(B) the sum of the amounts allowed as a credit for all preceding periods under section 2505(a)(2).”
2013—Subsec. (c). Pub. L. 112–240 substituted in table separate tentative tax rates for amounts over $500,000 but not over $750,000, over $750,000 but not over $1,000,000, and over $1,000,000, respectively, for single tentative tax rate for amounts over $500,000.
2010—Subsec. (b)(2). Pub. L. 111–312, § 302(d)(1)(A), substituted “if the modifications described in subsection (g)” for “if the provisions of subsection (c) (as in effect at the decedent’s death)”.
Subsec. (c). Pub. L. 111–312, § 302(a)(2), struck out par. (1) designation and heading preceding table, substituted in table a single tentative tax rate for any amount over $500,000 for separate tentative tax rates for amounts ranging from over $500,000 to over $2,500,000, and struck out par. (2) which related to phasedown of maximum rate of tax.
Subsec. (g). Pub. L. 111–312, § 302(d)(1)(B), added subsec. (g).
2001—Subsec. (c)(1). Pub. L. 107–16, § 511(a), substituted in table provisions that if the amount on which the tax is computed is over $2,500,000, then the tentative tax is $1,025,800, plus 50% of the excess over $2,500,000 for provisions that if the amount on which the tax is computed is over $2,500,000 but not over $3,000,000, then the tentative tax is $1,025,800, plus 53% of the excess over $2,500,000, and if the amount on which the tax is computed is over $3,000,000, then the tentative tax is $1,290,800, plus 55% of the excess over $3,000,000.
Subsec. (c)(2). Pub. L. 107–16, § 511(c), added par. (2).
Pub. L. 107–16, § 511(b), struck out heading and text of par. (2). Text read as follows: “The tentative tax determined under paragraph (1) shall be increased by an amount equal to 5 percent of so much of the amount (with respect to which the tentative tax is to be computed) as exceeds $10,000,000 but does not exceed the amount at which the average tax rate under this section is 55 percent.”
1998—Subsec. (f). Pub. L. 105–206, § 6007(e)(2)(B), reenacted heading without change and amended text generally. Prior to amendment, text read as follows: “If—
“(1) the time has expired within which a tax may be assessed under chapter 12 (or under corresponding provisions of prior laws) on the transfer of property by gift made during a preceding calendar period (as defined in section 2502(b)), and
“(2) the value of such gift is shown on the return for such preceding calendar period or is disclosed in such return, or in a statement attached to the return, in a manner adequate to apprise the Secretary of the nature of such gift,
the value of such gift shall, for purposes of computing the tax under this chapter, be the value of such gift as finally determined for purposes of chapter 12.”
Subsec. (f)(2). Pub. L. 105–277 inserted concluding provisions.
1997—Subsec. (c)(2). Pub. L. 105–34, § 501(a)(1)(D), substituted “the amount at which the average tax rate under this section is 55 percent” for “$21,040,000”.
Subsec. (f). Pub. L. 105–34, § 506(a), added subsec. (f).
1993—Subsec. (c)(1). Pub. L. 103–66, § 13208(a), substituted in table provisions that if the amount on which the tax is computed is over $2,500,000 but not over $3,000,000, then the tentative tax is $1,025,800, plus 53% of the excess over $2,500,000 and if the amount on which the tax is computed is over $3,000,000, then the tentative tax is $1,290,800, plus 55% of the excess over $3,000,000 for provisions that if the amount on which the tax is computed is over $2,500,000, then the tentative tax is $1,025,800, plus 50% of the excess over $2,500,000.
Subsec. (c)(2), (3). Pub. L. 103–66, § 13208(b)(1), (2), redesignated par. (3) as (2), struck out “($18,340,000 in the case of decedents dying, and gifts made, after 1992)” after “exceed $21,040,000”, and struck out former par. (2) which related to the rates of tax on estates under this section for the years 1982 to 1992.
1987—Subsec. (b)(1). Pub. L. 100–203, § 10401(b)(2)(A)(i), substituted “under subsection (c)” for “in accordance with the rate schedule set forth in subsection (c)”.
Subsec. (b)(2). Pub. L. 100–203, § 10401(b)(2)(A)(ii), substituted “the provisions of subsec. (c)” for “the rate schedule set forth in subsection (c)”.
Subsec. (c)(2)(A). Pub. L. 100–203, § 10401(a)(1), substituted “1993” for “1988”.
Subsec. (c)(2)(D). Pub. L. 100–203, § 10401(a)(2), (3), substituted in heading “After 1983 and before 1993” for “For 1984, 1985, 1986, or 1987”, and in text “after 1983 and before 1993” for “in 1984, 1985, 1986, or 1987”.
Subsec. (c)(3). Pub. L. 100–203, § 10401(b)(1), added par. (3).
1984—Subsec. (c)(2)(A), (D). Pub. L. 98–369 substituted “1988” for “1985” in subpar. (A) and substituted “1984, 1985, 1986, or 1987” for “1984” in heading and text of subpar. (D).
1981—Subsec. (b)(2). Pub. L. 97–34, § 402(c), inserted “which would have been” before “payable” and “, if the rate schedule set forth in subsection (c) (as in effect at the decedent’s death) had been applicable at the time of such gifts” after “
Subsec. (c). Pub. L. 97–34, § 402(a), (b)(1), designated existing provision as par. (1), inserted heading “In general” and substituted in table provision that if the amount computed is over $2,500,000 then the tentative tax is $1,025,800 plus 50% of the excess over $2,500,000 for provisions that if the amount computed is over $2,500,000 but not over $3,000,000, then the tentative tax is $1,025,800 plus 53% of the excess over $2,500,000, over $3,000,000 but not over $3,500,000 then the tentative tax is $1,290,000 plus 57% of the excess over $3,000,000, over $3,500,000 but not over $4,000,000 then the tentative tax is $1,575,800 plus 61% of the excess over $3,500,000, over $4,000,000 but not over $4,500,000 then the tentative tax is $1,880,800 plus 65% of the excess over $4,000,000, over $4,500,000 but not over $5,000,000 then the tentative tax is $2,205,800 plus 69% of the excess over $4,500,000, over $5,000,000 then the tentative tax is $2,550,800 plus 70% of the excess over $5,000,000, and added par. (2).
1978—Subsec. (e). Pub. L. 95–600 added subsec. (e).
1976—Pub. L. 94–455 substituted provisions setting a unified rate schedule for estate and gift taxes ranging from 18 percent for the first $10,000 in taxable transfers to 70 percent of taxable transfers in excess of $5,000,000, with provision for adjustments for gift taxes paid by spouses, for provisions setting an estate tax of 3 percent of the first $5,000 of the taxable estate to 77 percent of the taxable estate in excess of $10,000,000.
Pub. L. 115–97, title I, § 11061(c),
Pub. L. 112–240, title I, § 101(c)(3), “(A) Except as otherwise provided by in this paragraph, the amendments made by this subsection [amending this section and section 2010 of this title] shall apply to estates of decedents dying, generation-skipping transfers, and gifts made, after “(B) The amendment made by paragraph (2) [amending section 2010 of this title] shall take effect as if included in the amendments made by section 303 of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 [Pub. L. 111–312].”
Pub. L. 111–312, title III, § 302(f),
Pub. L. 107–16, title V, § 511(f)(1), (2), “(1) The amendments made by subsections (a) and (b) [amending this section] shall apply to estates of decedents dying, and gifts made, after “(2) The amendment made by subsection (c) [amending this section] shall apply to estates of decedents dying, and gifts made, after
Amendment by Pub. L. 105–277 effective as if included in the provision of the Taxpayer Relief Act of 1997, Pub. L. 105–34, to which such amendment relates, see section 4003(l) of Pub. L. 105–277, set out as a note under section 86 of this title.
Amendment by Pub. L. 105–206 effective, except as otherwise provided, as if included in the provisions of the Taxpayer Relief Act of 1997, Pub. L. 105–34, to which such amendment relates, see section 6024 of Pub. L. 105–206, set out as a note under section 1 of this title.
Pub. L. 105–34, title V, § 501(f),
Pub. L. 105–34, title V, § 506(e)(1),
Pub. L. 103–66, title XIII, § 13208(c),
Pub. L. 100–203, title X, § 10401(c),
Pub. L. 98–369, div. A, title I, § 21(b),
Pub. L. 97–34, title IV, § 402(d),
Pub. L. 95–600, title VII, § 702(h)(3),
Pub. L. 94–455, title XX, § 2001(d)(1),
Pub. L. 91–614, § 1(a),
Pub. L. 111–312, title III, § 301(c),
Pub. L. 98–369, div. A, title VI, § 641, “(a) Nothing in any provision of law exempting any property (or interest therein) from taxation shall exempt the transfer of such property (or interest therein) from Federal estate, gift, and generation-skipping transfer taxes. In the case of any provision of law enacted after the date of the enactment of this Act [“(b) “(1) The provisions of subsection (a) shall apply to the estates of decedents dying, gifts made, and transfers made on or after “(2) The provisions of subsection (a) shall also apply in the case of any transfer of property (or interest therein) if at any time there was filed an estate or gift tax return showing such transfer as subject to Federal estate or gift tax.“(3) No inference shall arise from paragraphs (1) and (2) that any transfer of property (or interest therein) before
Pub. L. 98–369, div. A, title VI, § 642, “(a) With respect to transfers of public housing bonds occurring after “(b) Any taxpayer failing to provide the information required by subsection (a) shall be liable for a penalty equal to 25 percent of the excess of (1) the estate, gift, or generation-skipping tax that is payable assuming that such transfers are subject to tax, over (2) the tax payable assuming such transfers are not so subject.”