{"data":{"id":"us-il/35-ilcs-405-4","jurisdiction":"us-il","citation":"35 ILCS 405/4","heading":"Illinois generation-skipping transfer tax.","body":"(a) Imposition of tax. An Illinois generation-skipping transfer tax is imposed on every taxable transfer resulting in federal generation-skipping transfer tax involving transferred property having a tax situs within the State of Illinois.\n(b) Amount of tax. The amount of the Illinois generation-skipping transfer tax shall be the maximum state tax credit allowable with respect to the taxable transfer, reduced by the lesser of:\n(1) the amount of the state tax credit paid to any other state or states; and\n(2) the amount determined by multiplying the maximum state tax credit allowable with respect to the taxable transfer by the percentage which the gross value of the transferred property not having a tax situs in Illinois bears to the gross value of the total transferred property.","path":["CHAPTER 35 REVENUE","Illinois Estate and Generation-Skipping Transfer Tax Act."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=609\u0026ChapterID=8\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:20Z","sha256":"365f55ababbcc9d3af1a055353151b977c0dccbaf13cc65c67b0863ac04cd7cf","source_id":"us-il","stale":false,"prev":"us-il/35-ilcs-405-3","next":"us-il/35-ilcs-405-5"},"notice":"GroundRules: Original legal text. Not legal advice."}