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2017 South Carolina Code of Laws
Title 12 - Taxation
CHAPTER 16 - ESTATE TAX
Section 12-16-710. Definitions.
Universal Citation: SC Code § 12-16-710 (2017)
(A) Terms, phrases, and words used in this article, except for those defined in subsection (B) of this section, are defined as they are defined under subchapter B of Chapter 13 of the Internal Revenue Code of 1986.
(B) As used in this article the phrase:
"Original transferor" means any transferor, as defined in Internal Revenue Code Section 2652, who by grant, gift, trust, will, or otherwise makes a transfer of real or personal property that results in a federal generation-skipping transfer tax under applicable provisions of the Internal Revenue Code at any time and for which a credit is available under Section 2604.
HISTORY: 1987 Act No. 70, Section 1.
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