Statute · New York Tax Law
N.Y. Tax Law § 635 — Credit to trust beneficiary receiving accumulation distribution
N.Y. Tax Law § 635
- Type
- Statute
- Source
- New York Tax Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 635. Credit to trust beneficiary receiving accumulation distribution. A nonresident or part-year resident beneficiary of a trust whose New York source income includes all or part of an accumulation distribution by such trust, as defined in section six hundred sixty-five of the internal revenue…
Citator
N.Y. Tax Law § 635 — Credit to trust beneficiary receiving accumulation distribution is in force in the current edition of the Code, and nothing recorded condemns it.
§ 635. Credit to trust beneficiary receiving accumulation distribution. A nonresident or part-year resident beneficiary of a trust whose New York source income includes all or part of an accumulation distribution by such trust, as defined in section six hundred sixty-five of the internal revenue code, shall be allowed a credit against the tax otherwise due under this article, computed in the same manner and subject to the same limitation as provided by section six hundred twenty-one with respect to a resident beneficiary except that such limitation shall be applied as if it also referred to an exclusion from New York source income.