§ 44-40-2 — § 44-40-2. Definitions.

Rhode Island § 44-40-2

• Jurisdiction: Rhode Island
• Title 44: Taxation
• Ch. 44-40: Generation Skipping Transfer Tax

Text

§ 44-40-2. Definitions.

Except where the context otherwise requires, the words and phrases defined in this section are used in this chapter in the sense given them in the following definitions:

(1) "Administrator� means the director of the division of taxation.

(2) "Deemed transferorâ€� has the same meaning as defined in 26 U.S.C. § 2601 et seq.

(3) "Federal generation-skipping transfer taxâ€� means the tax imposed by 26 U.S.C. § 2601 et seq.

(4) "Generation-skipping transferâ€� means every transfer subject to the tax imposed under 26 U.S.C. § 2601 et seq. where the original transferor is a resident of the state of Rhode Island at the date of the original transfer, and the deemed transferor is a resident of Rhode Island at the time of his or her death, and the property transferred is real or personal property in Rhode Island.

(5) "Original transferorâ€� means any grantor, donor, trustor, or testator who by gift, trust, or will makes a transfer of real or personal property that results in a federal generation- skipping transfer tax under applicable provisions of the Internal Revenue Code of the United States, 26 U.S.C. § 1 et seq.

Legislative History

P.L. 1981, ch. 264, § 1; P.L. 1991, ch. 44, art. 34, § 1.