Except where the context otherwise requires, the words and phrases defined in this section are used in this chapter in the sense given them in the following definitions:

Terms Used In Rhode Island General Laws 44-40-2

(1) “Administrator” means the director of the division of taxation.

(2) “Deemed transferor” has the same meaning as defined in 26 U.S.C. § 2601 et seq.

(3) “Federal generation-skipping transfer tax” means the tax imposed by 26 U.S.C. § 2601 et seq.

(4) “Generation-skipping transfer” means every transfer subject to the tax imposed under 26 U.S.C. § 2601 et seq. where the original transferor is a resident of the state of Rhode Island at the date of the original transfer, and the deemed transferor is a resident of Rhode Island at the time of his or her death, and the property transferred is real or personal property in Rhode Island.

(5) “Original transferor” means any grantor, donor, trustor, or testator who by 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 of the United States, 26 U.S.C. § 1 et seq.

History of Section.
(P.L. 1981, ch. 264, § 1; P.L. 1991, ch. 44, art. 34, § 1.)