Title 7. Death Taxes — Subtitle 4. Maryland Generation-Skipping Transfer Tax

In this subtitle the following words have the meanings indicated.

“Federal credit” means:

“Federal generation-skipping transfer tax” means the tax imposed by § 2601 of the Internal Revenue Code.

“Generation-skipping transfer” means a transfer subject to the federal generation-skipping transfer tax.

“Original transferor” means an individual who makes a transfer of property that results in the imposition of the federal generation-skipping transfer tax.

Except as provided in subsection (b) of this section, a tax is imposed on a generation-skipping transfer that occurs at the same time and as a result of the death of an individual, if:

The Maryland generation-skipping transfer tax does not apply to a direct skip, as defined under § 2612 of the Internal Revenue Code.

The person required to file a federal generation-skipping transfer tax return on which a federal credit is allowable shall complete and file a Maryland generation-skipping transfer tax return with the Comptroller on or before the last day for filing the federal return.

If, after a person files a Maryland generation-skipping transfer tax return, the federal generation-skipping transfer tax is increased, the person shall complete and file an amended return with the Comptroller when the additional federal tax is paid.