• Automatic Allocation of GST Exemption Rules in the Economic Growth and Tax Relief Reconciliation Act of 2001
  • May 2, 2003
  • Law Firms: Buchanan Ingersoll & Rooney PC - Washington Office ; Buchanan Ingersoll & Rooney PC - Pittsburgh Office
  • The Economic Growth and Tax Relief Reconciliation Act of 2001 (the "Act") contains a number of modifications to the generation-skipping transfer ("GST") tax rules intended to provide relief from inadvertent failures to allocate GST exemption. The GST exemption automatic allocation provisions in the Act are summarized below, following a general discussion of the GST tax.