26 U.S.C. § 2631 - U.S. Code - Unannotated Title 26. Internal Revenue Code § 2631. GST exemption

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(a) General rule.--For purposes of determining the inclusion ratio, every individual shall be allowed a GST exemption amount which may be allocated by such individual (or his executor) to any property with respect to which such individual is the transferor.

(b) Allocations irrevocable.--Any allocation under subsection (a), once made, shall be irrevocable.

(c) GST exemption amount.--For purposes of subsection (a), the GST exemption amount for any calendar year shall be equal to the basic exclusion amount under section 2010(c) for such calendar year.

Cite this article: FindLaw.com - 26 U.S.C. § 2631 - U.S. Code - Unannotated Title 26. Internal Revenue Code § 2631. GST exemption - last updated January 01, 2018 | https://codes.findlaw.com/us/title-26-internal-revenue-code/26-usc-sect-2631/


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