taxable distribution

noun

Legal Definition of taxable distribution

: a generation-skipping transfer of property held in trust that is subject to a generation-skipping transfer tax payable by a skip person when he or she receives a distribution of income or principal — compare direct skip, taxable termination

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“Taxable distribution.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/taxable%20distribution. Accessed 19 Oct. 2020.

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