SECTIONS 16710 - California Statutes

REVENUE AND TAXATION CODE

SECTION 16710

16710. (a) A tax is hereby imposed upon every generation-skipping
transfer in an amount equal to the amount allowable as a credit for
state generation-skipping transfer taxes under Section 2604 of the
Internal Revenue Code.
(b) If any of the property transferred is real property in another
state or personal property having a business situs in another state
which requires the payment of a tax for which credit is received
against the federal generation-skipping transfer tax, any tax due
pursuant to subdivision (a) of this section shall be reduced by an
amount which bears the same ratio to the total state tax credit
allowable for federal generation-skipping transfer tax purposes as
the value of such property taxable in such other state bears to the
value of the gross generation-skipping transfer for federal
generation skipping transfer tax purposes.