New York § 635 Credit to trust beneficiary receiving accumulation distribution

New York Statutes

§ 635 — Credit to trust beneficiary receiving accumulation distribution

New York § 635

Law TAXTax

Part 3Nonresidents and Part-year Residents

Art. 22Personal Income Tax

This text of New York § 635 (Credit to trust beneficiary receiving accumulation distribution) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Tax § 635 (2026).

Text

  § 635. Credit to trust beneficiary receiving accumulation\ndistribution. A nonresident or part-year resident beneficiary of a trust\nwhose New York source income includes all or part of an accumulation\ndistribution by such trust, as defined in section six hundred sixty-five\nof the internal revenue code, shall be allowed a credit against the tax\notherwise due under this article, computed in the same manner and\nsubject to the same limitation as provided by section six hundred\ntwenty-one with respect to a resident beneficiary except that such\nlimitation shall be applied as if it also referred to an exclusion from\nNew York source income.\n

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§ 635. Credit to trust beneficiary receiving accumulation\ndistribution. A nonresident or part-year resident beneficiary of a trust\nwhose New York source income includes all or part of an accumulation\ndistribution by such trust, as defined in section six hundred sixty-five\nof the internal revenue code, shall be allowed a credit against the tax\notherwise due under this article, computed in the same manner and\nsubject to the same limitation as provided by section six hundred\ntwenty-one with respect to a resident beneficiary except that such\nlimitation shall be applied as if it also referred to an exclusion from\nNew York source income.\n