Section 145.995

Title X TAXATION AND REVENUE

Chapter 145

Effective - 01 Jan 1990, see footnote   

  145.995.  Generation-skipping credit tax imposed — amount. — 1.  A generation-skipping credit tax is imposed on every generation-skipping transfer which consists in whole or in part of property having a tax situs within the state of Missouri.  The Missouri generation-skipping credit tax shall be the maximum credit for state death taxes allowed by Internal Revenue Code, section 2604.

  2.  The other sections of sections 145.011 to 145.995 shall be applied by substituting:

  (1)  "Missouri generation-skipping credit tax" for "Missouri estate tax";

  (2)  "Tax imposed by section 145.995" for "tax imposed by section 145.011";

  (3)  "Property included in the generation-skipping transfer" for "gross estate";

  (4)  "Generation-skipping tax credit" for "credit for state death taxes"; and

  (5)  "Federal generation-skipping tax return" for "federal estate tax return".

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(L. 1980 S.B. 539, A.L. 1989 H.B. 35, et al.)

Effective 1-1-90