18-C §7-453. Property not productive of income
§7-453. Property not productive of income 1. Income to obtain marital deduction. If a marital deduction is allowed for all or part of a trust whose assets consist substantially of property that does not provide the spouse with sufficient income from or use of the trust assets, and if the amounts that the trustee transfers […]
18-C §7-441. Character of receipts
§7-441. Character of receipts 1. Entity. As used in this section, “entity” means a corporation, partnership, limited liability company, regulated investment company, real estate investment trust, common trust fund or any other organization in which a trustee has an interest other than a trust or estate to which section 7‑442 applies, a business or activity […]
18-C §7-442. Distribution from trust or estate
§7-442. Distribution from trust or estate A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest, and shall allocate to principal an amount received as a distribution of principal from such a trust […]
18-C §7-443. Business and other activities conducted by trustee
§7-443. Business and other activities conducted by trustee 1. Separate accounting for business or other activity. If a trustee who conducts a business or other activity determines that it is in the best interest of all the beneficiaries to account separately for the business or activity instead of accounting for it as part of the […]
18-C §7-444. Principal receipts
§7-444. Principal receipts A trustee shall allocate to principal: [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. Assets received. To the extent not allocated to income under this Part, assets received from a transferor during the transferor’s lifetime, a decedent’s estate, a trust with a […]