Is the GST tax itself included in the taxable amount? Who pays the tax?
What two kinds of GST tax are there? There is tax inclusive and tax exclusive. With tax inclusive, the GST tax (which is eventually paid) is itself included in the taxable amount. With tax exclusive, the taxable amount for a direct skip includes only the net amount received by the beneficiary, not the GST tax itself. The GST tax base does not include the amount of any federal estate or federal gift tax payable with respect to such transfer. Why does this matter? It matters because of the gift tax vs. estate tax model and the multiple ways to make these gifts.
Agenda
Faculty
Jennifer A. Pratt
Venable LLP
- Partner in the Baltimore, MD office of Venable LLP
- Assists clients with estate planning, charitable giving, and business continuity planning while minimizing estate, gift and generation-skipping transfer tax exposure
- Experienced in the administration of decedent’s estates and the preparation of wills, trusts, both revocable and irrevocable, durable powers of attorney, advance directives and the incorporation and application for exemption for private foundations
- Assists clients and business owners with business succession planning and documents related to business tax planning
- Also experienced in drafting pre-marital agreements and post-marital agreements
- Can be contacted at 410-528-2883 or [email protected]
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- Live Webinars
- OnDemand Webinars
- MP3 Downloads
- Course Manuals
- Audio Recordings*
- Executive Reports
- White Papers and Articles
- Sponsored Live Webinars
Additional benefits include:
- State Specific Credit Tracker
- Members Only Newsletter
- All-Access Pass Course Concierge
* For audio recordings you only pay shipping
Questions? Call 877-296-2169 to speak with a real person.
More Program Information
Access to all training products $699/year
Unlimited Lorman Training
With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!
Easy Registrations
Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.
Invest in Yourself
You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.
