375B.100 - Amount of tax imposed. - Nevada Statutes

375B.100  Amount of tax imposed.

      1.  Except as otherwise provided in subsection 2, a tax is hereby imposed on the generation-skipping transfer other than a direct skip, that occurs at the same time as and as a result of the death of a person in the amount of the maximum credit allowable against the federal generation-skipping transfer tax for the payment of state generation-skipping transfer taxes.

      2.  The tax imposed by subsection 1 is reduced by the apportioned amount of the generation-skipping transfer taxes collected by another state.

      (Added to NRS by 1989, 1495)