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Concerning the Federal tax on generation-skipping transfers: O a. The annual gift tax exclusion cannot be used to reduce the tax. O b. The tax
Concerning the Federal tax on generation-skipping transfers: O a. The annual gift tax exclusion cannot be used to reduce the tax. O b. The tax applies in addition to any applicable gift or estate tax. O c. The tax applies in lieu of any applicable gift or estate tax. O d. The tax is applied at a flat 33 percent tax rate
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