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This entry was published on 2014-09-22
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SECTION 618
New York taxable income of a resident estate or trust
Tax (TAX) CHAPTER 60, ARTICLE 22, PART 2
§ 618. New York taxable income of a resident estate or trust. The New
York taxable income of a resident estate or trust means its federal
taxable income as defined in the laws of the United States for the
taxable year, with the following modifications:

(2) There shall be subtracted the modifications described in
paragraphs (4) and (5) of subsection (c) of section six hundred twelve,
with respect to gains from the sale or other disposition of property, to
the extent such gains are excluded from federal distributable net income
of the estate or trust.

(3) There shall be added or subtracted (as the case may be) the share
of the estate or trust in the New York fiduciary adjustment determined
under section six hundred nineteen.

* (4) There shall be added or subtracted (as the case may be) the
modifications described in paragraphs (6), (10), (17), (18), (19), (20),
(21), (22), (23), (24), (25), (26), (27), (29), (38) and (39) of
subsection (b) and in paragraphs (11), (13), (15), (19), (20), (21),
(22), (23), (24), (25), (26) and (28) of subsection (c) of section six
hundred twelve of this part.

* NB Effective until ch. 782/88 expires

* (4) There shall be added or subtracted (as the case may be) the
modifications described in paragraphs (6), (10), (17), (18), (19), (20),
(21), (22), (23), (24), (25), (26), (27), (28), (29), (38) and (39) of
subsection (b) and in paragraphs (11), (13), (15), (19), (20), (21),
(22), (23), (24), (25), (26) and (28) of subsection (c) of section six
hundred twelve of this part.

* NB Effective when ch. 782/88 expires

(5) In the case of a trust, there shall be added the amount of any
includible gain, reduced by any deductions properly allocable thereto,
upon which tax is imposed for the taxable year pursuant to section six
hundred forty-four of the internal revenue code.