Nevada Revised Statutes 375B.100 – Amount of tax imposed
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1. Except as otherwise provided in subsection 2, a tax is hereby imposed on the generation-skipping transfer other than a direct skip, that occurs at the same time as and as a result of the death of a person in the amount of the maximum credit allowable against the federal generation-skipping transfer tax for the payment of state generation-skipping transfer taxes.
Terms Used In Nevada Revised Statutes 375B.100
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
2. The tax imposed by subsection 1 is reduced by the apportioned amount of the generation-skipping transfer taxes collected by another state.