Amended 1978, 1981, 1986
- 1986 Pub. L. 99-514 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 Pub. L. 97-34 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 Pub. L. 95-600 Pub. L. 95–600, § 702(h)(2), inserted “, as modified by section 2001(e)” after “within the meaning of section 2001(b)”.
- 1978 Pub. L. 95-600 Pub. L. 95–600, § 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”.
- 1978 Pub. L. 95-600 Pub. L. 95–600, § 702(n)(4)(B), inserted “(or beneficiary)” after “the deemed transferor”.
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).