New Hampshire § 564-C:5-505 Income Taxes

New Hampshire Statutes

§ 564-C:5-505 — Income Taxes

New Hampshire § 564-C:5-505

Title LVIPROBATE COURTS AND DECEDENTS' ESTATES

Ch. 564-CUNIFORM PRINCIPAL AND INCOME ACT

SubdivisionARTICLE 5ALLOCATION OF DISBURSEMENTS DURING ADMINISTRATION OF TRUST

This text of New Hampshire § 564-C:5-505 (Income Taxes) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 564-C:5-505 (2026).

Text

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

(b)A tax required to be paid by a trustee 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)A tax required to be paid by a trustee on the trust's share of an entity's taxable income must be paid proportionately:

(1)from income to the extent that receipts from the entity are allocated to income; and

(2)from principal to the extent that:

(A)receipts from the entity are allocated to principal; and

(B)the trust's share of the entity's taxable income exceeds the total receipts described in subsections (c)(1) and (2)(A).

(d)For purposes of this section, receipts allocated to principal or income mu

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(a) A tax required to be paid by a trustee based on receipts allocated to income must be paid from income.
(b) A tax required to be paid by a trustee 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) A tax required to be paid by a trustee on the trust's share of an entity's taxable income must be paid proportionately:
(1) from income to the extent that receipts from the entity are allocated to income; and
(2) from principal to the extent that:
(A) receipts from the entity are allocated to principal; and
(B) the trust's share of the entity's taxable income exceeds the total receipts described in subsections (c)(1) and (2)(A).
(d) For purposes of this section, receipts allocated to principal or income must be reduced by the amount distributed to a beneficiary from principal or income for which the trust receives a deduction in calculating the tax.