Iowa Admin. Code r. 701-902.6

Current through Register Vol. 47, No. 11, December 11, 2024

Rule 701-902.6 - Generation skipping transfers prior to Public Law 99-514

Public Law 99-514 repealed the federal generation skipping transfer tax retroactive to June 11, 1976, and provided for a refund of any federal generation skipping transfer tax that had been paid. As a result of this federal statute there is no Iowa generation skipping transfer tax on those transfers which are exempted from the federal tax under Public Law 99-514.

This rule is intended to implement Iowa Code chapter 450A and 1988 Iowa Acts, chapter 1028.

Editorial change: IAC Supplement 11/2/22