Rhode Island § 44-40-3 § 44-40-3. Tax imposed — Amount — Property in another state.

Rhode Island Statutes

§ 44-40-3 — § 44-40-3. Tax imposed — Amount — Property in another state.

Rhode Island § 44-40-3

Title 44Taxation

Ch. 44-40Generation Skipping Transfer Tax

This text of Rhode Island § 44-40-3 (§ 44-40-3. Tax imposed — Amount — Property in another state.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 44-40-3 (2026).

Text

§ 44-40-3. Tax imposed — Amount — Property in another state.
(a) A tax is imposed upon every generation-skipping transfer in an amount equal to the
            amount allowable as a credit for state legacy taxes under 26 U.S.C. § 2604.
         
(b) If any of the property transferred is real property in another state or personal property
            having taxable 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 subsection (a) of this section shall be reduced by an amount which bears
            the same ratio to the total state tax cred

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§ 44-40-3. Tax imposed — Amount — Property in another state.

(a) A tax is imposed upon every generation-skipping transfer in an amount equal to the amount allowable as a credit for state legacy taxes under 26 U.S.C. § 2604.

(b) If any of the property transferred is real property in another state or personal property having taxable 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 subsection (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 the property taxable in the other state bears to the value of the gross generation-skipping transfer for federal generation-skipping transfer tax purposes.