EPTL 11-A-5.6 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 11-A-5.5 Income taxes up PART 5 Allocation of Disbursements During Administration of Trust Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 11-A-5.6 Adjustments between principal and income because of taxes Estates, Powers & Trusts (EPT) CHAPTER 17-B, ARTICLE 11-A, PART 5 § 11-A-5.6 Adjustments between principal and income because of taxes A fiduciary may make adjustments between principal and income to offset the shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries which arise from: (1) elections and decisions that the fiduciary makes from time to time regarding tax matters; (2) an income tax or any other tax that is imposed upon the fiduciary or a beneficiary as a result of a transaction involving or a distribution from the estate or trust; or (3) the ownership by an estate or trust of an interest in an entity whose taxable income, whether or not distributed, is includable in the taxable income of the estate, trust, or a beneficiary.