§ 67-8-601. Short Title

This part shall be known and may be cited as the “Generation-Skipping Transfer Tax Law.”

§ 67-8-602. Part Definitions

As used in this part, unless the context otherwise requires: “Federal generation-skipping transfer tax” means the tax imposed by 26 U.S.C. § 2601; “Generation-skipping transfer” means a transfer subject to the tax imposed by 26 U.S.C. § 2601 where the original transferor is a resident of Tennessee at the date of the transfer, or the […]

§ 67-8-603. Imposition of Tax — Credits

A tax is imposed upon every generation-skipping transfer in an amount equal to the amount allowable as a credit for state inheritance taxes under 26 U.S.C. § 2604. If any of the property transferred is real property located in another state or is tangible personal property having an actual situs in another state that requires […]

§ 67-8-604. Returns

Every person required to file a return reporting a generation-skipping transfer under applicable federal statute and regulations shall file a return with the department of revenue on or before the last day prescribed for filing the federal return, and shall pay the tax imposed by § 67-8-603 at that time. There shall be attached to […]

§ 67-8-605. Administrative and Enforcement Procedures

To the extent not inconsistent with §§ 67-8-603 and 67-8-604, the administrative and enforcement provisions of the inheritance tax law, as stated in parts 3-5 of this chapter, shall be applicable to this part in the event the original transferor is not alive at the time of the transfer. Notwithstanding § 67-8-118, if the original […]