Delaware § 1638 Accumulation distribution credit for resident beneficiary of trust

Delaware Statutes

§ 1638 — Accumulation distribution credit for resident beneficiary of trust

Delaware § 1638

JurisdictionDelaware

Title30

PartIncome, Inheritance and Estate Taxes

Ch. 16PASS-THROUGH ENTITIES, ESTATES AND TRUSTS

Subch.Taxation of Estates, Trusts and Their Beneficiaries

This text of Delaware § 1638 (Accumulation distribution credit for resident beneficiary of trust) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 30, § 1638 (2026).

Text

(a)Allowance of credit. —A resident beneficiary of a trust whose taxable income includes all or part of an accumulation distribution by such trust as defined in § 665 of the Internal Revenue Code [26 U.S.C. § 665] shall be allowed a credit, against the tax otherwise due under Chapter 11 of this title, for all or a proportionate part of any tax paid by the trust for any preceding taxable year which would not have been payable if the trust had in fact made distribution to its beneficiaries at the times and in the amounts specified in § 666 of the Internal Revenue Code [26 U.S.C. § 666].

(b)Limitation on credit. —The credit under this section shall not reduce the tax otherwise due from the beneficiary to an amount less than would have been due if the accumulation distribution, or the benefic

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(a)Allowance of credit. —A resident beneficiary of a trust whose taxable income includes all or part of an accumulation distribution by such trust as defined in § 665 of the Internal Revenue Code [26 U.S.C. § 665] shall be allowed a credit, against the tax otherwise due under Chapter 11 of this title, for all or a proportionate part of any tax paid by the trust for any preceding taxable year which would not have been payable if the trust had in fact made distribution to its beneficiaries at the times and in the amounts specified in § 666 of the Internal Revenue Code [26 U.S.C. § 666].

(b)Limitation on credit. —The credit under this section shall not reduce the tax otherwise due from the beneficiary to an amount less than would have been due if the accumulation distribution, or the beneficiary’s part thereof, were excluded from the beneficiary’s taxable income, as modified by § 1106 of this title.

(c)Transition rule. —The credit under this section shall apply to accumulation distributions defined by § 665 of the Internal Revenue Code [26 U.S.C. § 665] in effect for the applicable taxable period.