A. Terms, phrases, and words used in this article, except for those defined in subsection B of this section, shall be defined as they are defined under Chapter 13 of subchapter B of the Internal Revenue Code of 1954, as amended.\nB. As used in this article the term or phrase:\n'Federal generation skipping transfer tax' means the tax imposed by Chapter 13 of subchapter A of the Internal Revenue Code of 1954, as amended.\n'Generation skipping transfer' includes every transfer subject to the tax imposed under Chapter 13 of subchapter A of the Internal Revenue Code of 1954, as amended, where the original transferor is a resident of the Commonwealth of Virginia at the date of original transfer, or the property transferred is real or personal property having a situs in Virginia.\n'Original transferor' means any grantor, donor, trustor, or testator who by grant, gift, trust or will 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.\nCode 1950, § 58-238.37; 1979, c. 559; 1984, c. 675.
Virginia Legal Code