Issue 2. Section 2501 imposes a tax for each calendar year on the transfer of property by gift by any individual. Section 2511(a) provides that subject to limitations contained in chapter 12, the tax imposed by section 2501 shall apply whether the transfer is in trust or otherwise, whether the gift is direct or indirect, and whether the property is real or personal, tangible or intangible.
Appears in 3 contracts
Sources: Donation Agreement, Donation Agreement, Donation Agreement