26 USC 2621 - Taxable amount in case of taxable distribution

U.S Code last checked for updates: Nov 23, 2024

§ 2621.

Taxable amount in case of taxable distribution

(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

(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.)

cite as: 26 USC 2621