Definition of generation-skipping tax in English:

generation-skipping tax

Syllabification: gen·er·a·tion-skip·ping tax

Entry from US English dictionary

(abbreviation GST)

noun

  • An estate tax imposed on beneficiaries who are two or more generations removed from the testator: a married couple has a total generation-skipping tax exemption of transfers of up to $2,000,000

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