term:

Taxable Distribution

taxable distribution n

: 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

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.