Statute · New York Estates, Powers & Trusts Law
N.Y. Est. Powers & Trusts Law § 11-A-5.6 — Adjustments between principal and income because of taxes
N.Y. Est. Powers & Trusts Law § 11-A-5.6
- Type
- Statute
- Source
- New York Estates, Powers & Trusts Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 11-A-5.6 Adjustments between principal and income because of taxes
Citator
N.Y. Est. Powers & Trusts Law § 11-A-5.6 — Adjustments between principal and income because of taxes is in force in the current edition of the Code, and nothing recorded condemns it.
§ 11-A-5.6 Adjustments between principal and income because of taxes
A fiduciary may make adjustments between principal and income to offset the shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries which arise from:
(1) elections and decisions that the fiduciary makes from time to time regarding tax matters;
(2) an income tax or any other tax that is imposed upon the fiduciary or a beneficiary as a result of a transaction involving or a distribution from the estate or trust; or
(3) the ownership by an estate or trust of an interest in an entity whose taxable income, whether or not distributed, is includable in the taxable income of the estate, trust, or a beneficiary.