§ 618 — New York taxable income of a resident estate or trust

New York § 618

• Jurisdiction: New York
• Law TAX: Tax
• Part 2: Residents
• Art. 22: Personal Income Tax

Text

§ 618. New York taxable income of a resident estate or trust. The New\nYork taxable income of a resident estate or trust means its federal\ntaxable income as defined in the laws of the United States for the\ntaxable year, with the following modifications:\n (2) There shall be subtracted the modifications described in\nparagraphs (4) and (5) of subsection (c) of section six hundred twelve,\nwith respect to gains from the sale or other disposition of property, to\nthe extent such gains are excluded from federal distributable net income\nof the estate or trust.\n (3) There shall be added or subtracted (as the case may be) the share\nof the estate or trust in the New York fiduciary adjustment determined\nunder section six hundred nineteen.\n * (4) There shall be added or subtracted (as the case may be) the\nmodifications described in paragraphs (6), (10), (17), (18), (19), (20),\n(21), (22), (23), (24), (25), (26), (27), (29), (38) and (39) of\nsubsection (b) and in paragraphs (11), (13), (15), (19), (20), (21),\n(22), (23), (24), (25), (26) and (28) of subsection (c) of section six\nhundred twelve of this part.\n * NB Effective until ch. 782/88 expires\n * (4) There shall be added or subtracted (as the case may be) the\nmodifications described in paragraphs (6), (10), (17), (18), (19), (20),\n(21), (22), (23), (24), (25), (26), (27), (28), (29), (38) and (39) of\nsubsection (b) and in paragraphs (11), (13), (15), (19), (20), (21),\n(22), (23), (24), (25), (26) and (28) of subsection (c) of section six\nhundred twelve of this part.\n * NB Effective when ch. 782/88 expires\n (5) In the case of a trust, there shall be added the amount of any\nincludible gain, reduced by any deductions properly allocable thereto,\nupon which tax is imposed for the taxable year pursuant to section six\nhundred forty-four of the internal revenue code.\n