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2022 New York Laws
TAX - Tax
Article 22 - Personal Income Tax
Part 3 - Nonresidents and Part-Year Residents
635 - Credit to Trust Beneficiary Receiving Accumulation Distribution.

Universal Citation:
NY Tax L § 635 (2022)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

§ 635. Credit to trust beneficiary receiving accumulation distribution. A nonresident or part-year resident beneficiary of a trust whose New York source income includes all or part of an accumulation distribution by such trust, as defined in section six hundred sixty-five of the internal revenue code, shall be allowed a credit against the tax otherwise due under this article, computed in the same manner and subject to the same limitation as provided by section six hundred twenty-one with respect to a resident beneficiary except that such limitation shall be applied as if it also referred to an exclusion from New York source income.


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