State Codes and Statutes
Statutes > New-york > Tax > Article-26-b > 1021§ 1021. Definitions. For purposes of this article: (a) Generation-skipping transfer. The term "generation-skipping transfer" includes every transfer subject to the tax imposed by section two thousand six hundred one of the internal revenue code which qualifies for the credit for generation-skipping transfer taxes under section two thousand six hundred four of the internal revenue code. (b) New York property. The term "New York property" includes (i) real property situated in this state, (ii) tangible personal property with an actual situs in this state, (iii) intangible personal property within this state employed in carrying on a trade, business or occupation in this state and (iv) intangible personal property where the original transferor was a resident of this state at the time of original transfer. (c) Original transferor. The term "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 a federal generation-skipping transfer tax under applicable provisions of the internal revenue code. The term "original transfer" shall mean such transfer by the "original transferor". (d) Person. The term "person" includes an individual, partnership, limited liability company, society, association, joint stock company, corporation, estate, receiver, trustee, assignee, referee, and any other person acting in a fiduciary or representative capacity, whether appointed by a court or otherwise, and any combination of the foregoing.
