The generation-skipping transfer tax is imposed
A. Instead of the gift tax.
B. Instead of the estate tax.
C. As a separate tax in addition to the gift and estate taxes.
D. On transfers of future interest to beneficiaries who are more than one generation above the donor's generation.
Answer: C. As a separate tax in addition to the gift and estate taxes.
You might also like to view...
What is the promotional mix element that evaluates public attitudes, identifies issues that may elicit public concern, and executes programs to gain public understanding and acceptance?
a. mass communications b. public relations c. personal selling d. sales promotion
For an offering to be exempt under Regulation D of the Securities Act of 1933, Rule 506 requires that
A. The SEC be notified within 10 days of the first sale. B. The offering be made without general advertising if any sales are made to purchasers who are not accredited investors. C. All accredited investors receive the issuer's financial information. D. There be a maximum of 35 investors.