Nevada § 164.920 Payment of taxes required to be paid by trustee

Nevada Statutes

§ 164.920 — Payment of taxes required to be paid by trustee

Nevada § 164.920

Title 13GUARDIANSHIPS; CONSERVATORSHIPS; TRUSTS

Ch. 164Administration

Principal and Income (Uniform Act)

This text of Nevada § 164.920 (Payment of taxes required to be paid by trustee) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 164.920 (2026).

Text

1. A tax required to be paid by a trustee based on receipts allocated to income must be paid from income. 2. 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. 3. A tax required to be paid by a trustee on the trust’s share of an entity’s taxable income must be paid:

(a)From income to the extent that receipts from the entity are allocated only to income;

(b)From principal to the extent that receipts from the entity are allocated only to principal;

(c)Proportionately from principal and income to the extent that receipts from the entity are allocated to both income and principal; and

(d)From principal to the extent that the tax exceeds the total receipts from the enti

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1. A tax required to be paid by a trustee based on receipts allocated to income must be paid from income.
2. 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.
3. A tax required to be paid by a trustee on the trust’s share of an entity’s taxable income must be paid:
(a) From income to the extent that receipts from the entity are allocated only to income;
(b) From principal to the extent that receipts from the entity are allocated only to principal;
(c) Proportionately from principal and income to the extent that receipts from the entity are allocated to both income and principal; and
(d) From principal to the extent that the tax exceeds the total receipts from the entity.
4. After applying the provisions of subsections 1, 2 and 3, the trustee shall adjust income or principal receipts to the extent that the taxes on the trust are reduced because the trust receives a deduction for payments made to a beneficiary.