The Generation-Skipping Tax Is Designed to Accomplish Which of the Following

question 112

Multiple Choice

The generation-skipping tax is designed to accomplish which of the following?

• A) generate additional revenues to supplement the estate tax.
• B) prevent the avoidance of transfer taxes (both estate and gift tax) through transfers that skip a generation of recipients.
• C) eliminate the possibility that the estate tax can be avoided by gifts in contemplation of death.
• D)replace the gift tax on distributions from trusts.
• E)None of these

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Definitions:

Domestic Policy

Refers to government plans and actions primarily focusing on issues within a country's borders, such as education, healthcare, and infrastructure.

Regulatory Review

The process of examining and evaluating the appropriateness, necessity, and impact of existing and proposed regulations.

Administrative Agencies

Governmental bodies responsible for the oversight and administration of specific functions, such as regulation and enforcement of laws and policies.

Specific Regulations

Regulations that are precisely defined or targeted towards a specific area or sector.