Identify Which of the Following Statements Is False

question 92

Multiple Choice

Identify which of the following statements is false.

• A) A direct skip skips one or more generations.
• B) The transferee is liable for the generation- skipping transfer tax (GSTT) in the case of a direct skip.
• C) The generation- skipping transfer tax (GSTT) is imposed to assure that some form of transfer taxation is imposed once a generation.
• D) Special use valuation is available for farmland to help alleviate liquidity problems.

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Definitions:

Land Redistribution

The process of reallocating land, often by government authority, to redistribute property from one group to another.

Legal Representation

The act of a lawyer or legal advocate defending or representing a client's interests in a court of law or legal matters.

Special Field Order 15

A military directive issued during the American Civil War that confiscated as Union property a strip of coastline stretching from Charleston, South Carolina, to the St. John's River in Florida, and redistributed the land to freed former slaves.

Black Soldiers' Widows

The spouses of African American soldiers who have passed away, often highlighting issues of recognition, benefits, and the role of race in military service.