Nebraska § 77-2725 Nonresident estate or trust; share of income; how determined

Nebraska Statutes

§ 77-2725 — Nonresident estate or trust; share of income; how determined

Nebraska § 77-2725

Ch. 77Revenue and Taxation

This text of Nebraska § 77-2725 (Nonresident estate or trust; share of income; how determined) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 77-2725 (2026).

Text

(1)The share of a nonresident estate or trust of items of income, gain, loss, and deduction entering into the definition of distributable net income and the share for purposes of section 77-2733 of a nonresident beneficiary of any estate or trust in estate or trust income, gain, loss, and deduction shall be the same amount, subject to the modifications contained in section 77-2716 , and have the same character as for federal income tax purposes. When an item entering into the computation of such amounts is not characterized for federal income tax purposes, it shall have the same character as if realized directly from the source from which realized by the estate or trust or incurred in the same manner as incurred by the estate or trust.

(2)The Tax Commissioner may by rule and regulatio

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

(1) The share of a nonresident estate or trust of items of income, gain, loss, and deduction entering into the definition of distributable net income and the share for purposes of section 77-2733 of a nonresident beneficiary of any estate or trust in estate or trust income, gain, loss, and deduction shall be the same amount, subject to the modifications contained in section 77-2716 , and have the same character as for federal income tax purposes. When an item entering into the computation of such amounts is not characterized for federal income tax purposes, it shall have the same character as if realized directly from the source from which realized by the estate or trust or incurred in the same manner as incurred by the estate or trust.
(2) The Tax Commissioner may by rule and regulation establish such other method or methods of determining the respective shares of the beneficiaries and of the estate or trust in its income derived from sources in this state as may be appropriate and equitable.