2005 Idaho Code - 63-3015 — QUALIFIED FUNERAL TRUSTS

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 30
                                  INCOME TAX
    63-3015.  QUALIFIED FUNERAL TRUSTS. (1) A resident of this state includes
a trust whose trustee has elected treatment as a qualified funeral trust
pursuant to section 685 of the Internal Revenue Code where, at the time of the
initial funding of the trust, the trust is required to be established under
the laws of this state, or in the absence of such a requirement, where a
funeral home or cemetery located in this state is identified to provide the
services or merchandise, or both, under the terms of a preneed contract
requiring the establishment of the trust.
    (2)  Qualified funeral trusts having a single trustee may file a single,
composite return pursuant to rules of the state tax commission. Each
beneficiary's interest in a qualified funeral trust included in the composite
return under this section shall be taxed as a separate trust for the purposes
of application of the rate schedules in section 63-3024, Idaho Code, and
determination of the filing requirement in section 63-3030, Idaho Code. The
composite return shall not be a return of a person under section 63-3082,
Idaho Code.