State Codes and Statutes

Statutes > New-york > Tax > Article-26-b > 1022

§  1022.  Imposition  of  tax.  A  tax  is  hereby  imposed upon every  generation-skipping transfer which includes  New  York  property  in  an  amount  computed by multiplying the maximum amount allowable as a credit  for state generation-skipping transfer taxes under section two  thousand  six  hundred  four  of  the  internal  revenue  code  by a fraction, the  numerator of which is the value of the New York property included in the  generation-skipping transfer and the denominator of which is  the  value  of  all  the  property included in the generation-skipping transfer. The  person liable for payment of the  federal  generation-skipping  transfer  tax shall be liable for the tax imposed by this section.

State Codes and Statutes

Statutes > New-york > Tax > Article-26-b > 1022

§  1022.  Imposition  of  tax.  A  tax  is  hereby  imposed upon every  generation-skipping transfer which includes  New  York  property  in  an  amount  computed by multiplying the maximum amount allowable as a credit  for state generation-skipping transfer taxes under section two  thousand  six  hundred  four  of  the  internal  revenue  code  by a fraction, the  numerator of which is the value of the New York property included in the  generation-skipping transfer and the denominator of which is  the  value  of  all  the  property included in the generation-skipping transfer. The  person liable for payment of the  federal  generation-skipping  transfer  tax shall be liable for the tax imposed by this section.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Tax > Article-26-b > 1022

§  1022.  Imposition  of  tax.  A  tax  is  hereby  imposed upon every  generation-skipping transfer which includes  New  York  property  in  an  amount  computed by multiplying the maximum amount allowable as a credit  for state generation-skipping transfer taxes under section two  thousand  six  hundred  four  of  the  internal  revenue  code  by a fraction, the  numerator of which is the value of the New York property included in the  generation-skipping transfer and the denominator of which is  the  value  of  all  the  property included in the generation-skipping transfer. The  person liable for payment of the  federal  generation-skipping  transfer  tax shall be liable for the tax imposed by this section.