§ 2604. Credit for certain State taxes
(a)
General rule
If a generation-skipping transfer (other than a direct skip) occurs at the same time as and as a result of the death of an individual, a credit against the tax imposed by section
2601 shall be allowed in an amount equal to the generation-skipping transfer tax actually paid to any State in respect to any property included in the generation-skipping transfer.
(b)
Limitation
The aggregate amount allowed as a credit under this section with respect to any transfer shall not exceed 5 percent of the amount of the tax imposed by section
2601 on such transfer.
(c)
Termination
This section shall not apply to the generation-skipping transfers after December 31, 2004.