Illinois § 306 Allocation or apportionment of income by estates and trusts

Illinois Statutes

§ 306 — Allocation or apportionment of income by estates and trusts

Illinois·Topic GOVERNMENT·Ch. 35 REVENUE·Act 35 ILCS 5/ Illinois Income Tax Act.·Art. Article 3 - Allocation And Apportionment Of Base Income

The items of income and deduction taken into account by an estate or trust in computing its base income for a taxable year shall be allocated or apportioned to this State to the extent provided by Sections 301 through 304 and, to the extent properly paid, credited or required to be distributed to beneficiaries for such taxable year, shall be deemed to have been so paid, credited or distributed pro rata.

Free access — add to your briefcase to read the full text and ask questions with AI

The items of income and deduction taken into account by an estate or trust in computing its base income for a taxable year shall be allocated or apportioned to this State to the extent provided by Sections 301 through 304 and, to the extent properly paid, credited or required to be distributed to beneficiaries for such taxable year, shall be deemed to have been so paid, credited or distributed pro rata.

Illinois § 306 (Allocation or apportionment of income by estates and trusts) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.