Arkansas § 28-77-309 Special tax benefits - Other rules

Arkansas Statutes

§ 28-77-309 — Special tax benefits - Other rules

Arkansas § 28-77-309

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This text of Arkansas § 28-77-309 (Special tax benefits - Other rules) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 28-77-309 (2026).

Text

(a)A unitrust policy may:

(1)provide methods and standards for:

(A)determining the timing of distributions;

(B)making distributions in cash or in kind or partly in cash and partly in kind; or (C) correcting an underpayment or overpayment to a beneficiary based on the unitrust amount if there is an error in calculating the unitrust amount;

(2)specify sources and the order of sources, including categories of income for federal income tax purposes, from which distributions of a unitrust amount are paid; or (3) provide other standards and rules the fiduciary determines serve the interests of the beneficiaries.

(b)If a trust qualifies for a special tax benefit or a fiduciary is not an independent person:

(1)the unitrust rate established under § 28-77-306 may not be less than three percen

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(a) A unitrust policy may: (1) provide methods and standards for: (A) determining the timing of distributions; (B) making distributions in cash or in kind or partly in cash and partly in kind; or (C) correcting an underpayment or overpayment to a beneficiary based on the unitrust amount if there is an error in calculating the unitrust amount; (2) specify sources and the order of sources, including categories of income for federal income tax purposes, from which distributions of a unitrust amount are paid; or (3) provide other standards and rules the fiduciary determines serve the interests of the beneficiaries. (b) If a trust qualifies for a special tax benefit or a fiduciary is not an independent person: (1) the unitrust rate established under § 28-77-306 may not be less than three percent or more than five percent; (2) the only provisions of § 28-77-307 which apply are § 28-77-307(a) and § 28-77-307(b)(1) , § 28-77-307(b)(4) , § 28-77-307(b)(5)(A) , and § 28-77-307(b)(9) ; (3) the only period that may be used under § 28-77-308 is a calendar year under § 28-77-308(a)(1) ; and (4) the only other provisions of § 28-77-308 which apply are § 28-77-308(b)(2)(A) and § 28-77-308(b)(3) .