{"data":{"id":"us-md/md.-code-tax-general-7-401","jurisdiction":"us-md","citation":"Md. Code, Tax - General § 7–401","heading":"","body":"(a) In this subtitle the following words have the meanings indicated.\n(b) “Federal credit” means:\n(1) the maximum allowable credit for State taxes under § 2604 of the Internal Revenue Code against the federal generation-skipping transfer tax; less\n(2) the amount that bears the same ratio to the maximum allowable credit as the value of the generation-skipping transfer taxable by all other states bears to the total value of the generation-skipping transfer.\n(c) “Federal generation-skipping transfer tax” means the tax imposed by § 2601 of the Internal Revenue Code.\n(d) “Generation-skipping transfer” means a transfer subject to the federal generation-skipping transfer tax.\n(e) “Original transferor” means an individual who makes a transfer of property that results in the imposition of the federal generation-skipping transfer tax.","path":["Article - Tax - General"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gtg\u0026section=7-401","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T20:01:18Z","sha256":"1bfe405b44eb840b1e84c51fa0af6237258249fa83499b8beb14a278564c1fdf","source_id":"us-md","stale":false,"prev":"us-md/md.-code-tax-general-7-309","next":"us-md/md.-code-tax-general-7-402"},"notice":"GroundRules: Original legal text. Not legal advice."}