67-8-602 - Part definitions. - Tennessee Statutes

67-8-602. Part definitions.

As used in this part, unless the context otherwise requires:

     (1)  “Federal generation-skipping transfer tax” means the tax imposed by 26 U.S.C. § 2601;

     (2)  “Generation-skipping transfer” means a transfer subject to the tax imposed by 26 U.S.C. § 2601 where the original transferor is a resident of Tennessee at the date of the transfer, or the property transferred is real property or tangible personal property with an actual situs in Tennessee; and

     (3)  “Original transferor” means any grantor, donor, trustor or testator who by grant, gift, trust or will makes a transfer of real or personal property that results in the imposition of a federal generation-skipping transfer tax under applicable provisions of title 26 of the United States Code.

[Acts 1978, ch. 731, § 13; T.C.A., § 67-6-102; Acts 1988, ch. 613, § 1.]