Kansas § 58-9a-506 Income taxes

Kansas Statutes

§ 58-9a-506 — Income taxes

Kansas § 58-9a-506

Ch. 58PERSONAL AND REAL PROPERTY

Art. 9aUNIFORM FIDUCIARY INCOME AND PRINCIPAL ACT

This text of Kansas § 58-9a-506 (Income taxes) is published on Counsel Stack Legal Research, covering Kansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Kan. Stat. Ann. § 58-9a-506 (2026).

Text

(a)A tax required to be paid by a fiduciary which is based on receipts allocated to income must be paid from income.

(b)A tax required to be paid by a fiduciary which is based on receipts allocated to principal must be paid from principal, even if the tax is called an income tax by the taxing authority.

(c)Subject to subsection (d) and K.S.A. 2024 Supp. 58-9a-504, 58-9a-505 and 58-9a-507, and amendments thereto, a tax required to be paid by a fiduciary on a share of an entity's taxable income in an accounting period must be paid from:

(1)Income and principal proportionately to the allocation between income and principal of receipts from the entity in the period; and

(2)principal to the extent the tax exceeds the receipts from the entity in the period.

(d)After applying subsections (a

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

(a) A tax required to be paid by a fiduciary which is based on receipts allocated to income must be paid from income.
(b) A tax required to be paid by a fiduciary which is based on receipts allocated to principal must be paid from principal, even if the tax is called an income tax by the taxing authority.
(c) Subject to subsection (d) and K.S.A. 2024 Supp. 58-9a-504, 58-9a-505 and 58-9a-507, and amendments thereto, a tax required to be paid by a fiduciary on a share of an entity's taxable income in an accounting period must be paid from:
(1) Income and principal proportionately to the allocation between income and principal of receipts from the entity in the period; and
(2) principal to the extent the tax exceeds the receipts from the entity in the period.
(d) After applying subsections (a) through (c), a fiduciary shall adjust income or principal receipts, to the extent the taxes the fiduciary pays are reduced because of a deduction for a payment made to a beneficiary.