N.Y. Tax Law Section 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.

Source: Section 635 — Credit to trust beneficiary receiving accumulation distribution, https://www.­nysenate.­gov/legislation/laws/TAX/635 (updated Sep. 22, 2014; accessed Nov. 1, 2025).

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Nov. 1, 2025

Last modified:
Sep. 22, 2014

§ 635. Credit to trust beneficiary receiving accumulation distribution's source at nysenate​.gov

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