Identify which of the following statements is false.
A)Every grantor is entitled to a $5.25 million exemption from the GSTT in 2011.
B)If Greg transfers assets directly to his grandson, this transaction would be an example of a direct skip.
C)If Shaad transfers property in trust to his son, with the remainder to his grandson, at the death of the son a taxable termination will result.
D)The GSTT is levied at a flat rate, which is higher than the top rate under the estate tax rate schedule.

Question

Quizplus · Accepted Answer

The GSTT is levied at a flat rate of 35%, which is the same as the top rate under the estate tax rate schedule.

Identify Which of the Following Statements Is False