New York Tax Law (Consolidated Laws)
N.Y. Tax Law § 635
Credit to trust beneficiary receiving accumulation distribution
Official textnysenate.govlast amended
§ 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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In this article (40 sections)
- 630-F*3 · Gift for school-based health centers
- 630-F*4 · Gift for lupus education and prevention
- 630-F*5 · Gift for military families
- 630-F*6 · Gift for city university of New York
- 630-G · Gift for leukemia, lymphoma and myeloma research, education and…
- 630-G*2 · Gift for the William B
- 630-G*3 · Gift to the arts fund
- 630-H · New York state campaign finance fund check-off
- 630-I · Gifts for the state library system
- 630-I*2 · Gift for the firearm violence research fund
- 630-I*3 · Gifts for thoroughbred aftercare
- 630-J · Gifts for standardbred aftercare
- 630-K · Gift for Lyme and tick-borne diseases education, research and…
- 630-L · Gift for diabetes research and education
- 630-L*2 · Gift for cure childhood cancer research fund
- 631 · New York source income of a nonresident individual
- 632 · Nonresident partners and electing shareholders of S corporations
- 632-A · Personal service corporations and S corporations formed or…
- 633 · New York source income of a nonresident estate or trust
- 634 · Share of a nonresident beneficiary in income from New York sources
- 635 · Credit to trust beneficiary receiving accumulation distribution
- 637 · Computation of separate tax on the ordinary income portion of…
- 638 · New York source income of a part-year resident
- 639 · Accruals upon change of residence
- 651 · Returns and liabilities
- 652 · Time and place for filing returns and paying tax
- 653 · Signing of returns and other documents
- 654 · Relief from joint and several liability on joint return
- 657 · Extensions of time
- 658 · Requirements concerning returns, notices, records and statements
- 659 · Report of federal changes, corrections or disallowances
- 659-A · Reporting of federal partnership adjustments
- 660 · Election by shareholders of S corporations
- 661 · Change of election
- 662 · Computation of tax where taxpayer restores substantial amount…
- 663 · Estimated tax on sale or transfer of real property by nonresident
- 671 · Requirement of withholding tax from wages
- 672 · Information statement for employee
- 673 · Credit for tax withheld
- 674 · Employer's return and payment of withheld taxes