26 U.S. Code § 641 - Imposition of tax
The taxable income of an estate or trust shall be computed in the same manner as in the case of an individual, except as otherwise provided in this part. The tax shall be computed on such taxable income and shall be paid by the fiduciary. For purposes of this subsection, a foreign trust or foreign estate shall be treated as a nonresident alien individual who is not present in the United States at any time.
If a portion of an electing small business trust ceases to be treated as a separate trust under paragraph (1), any carryover or excess deduction of the separate trust which is referred to in section 642(h) shall be taken into account by the entire trust.
2007—Subsec. (c)(2)(C)(iv). Pub. L. 110–28 added cl. (iv).
1998—Subsecs. (c), (d). Pub. L. 105–206 redesignated subsec. (d) as (c) and struck out heading and text of former subsec. (c). Text read as follows:
“(1) General rule.—For purposes of this part, the taxable income of a trust does not include the amount of any includible gain as defined in section 644(b) reduced by any deductions properly allocable thereto.
“(2) Cross reference.—
1997—Subsec. (b). Pub. L. 105–34 inserted at end “For purposes of this subsection, a foreign trust or foreign estate shall be treated as a nonresident alien individual who is not present in the United States at any time.”
1996—Subsec. (d). Pub. L. 104–188 added subsec. (d).
1977—Subsec. (a). Pub. L. 95–30 substituted “section 1(e)” for “section 1(d)” in introductory provisions.
1976—Subsec. (c). Pub. L. 94–455 added subsec. (c).
1969—Subsec. (a). Pub. L. 91–172 substituted “The tax imposed by section 1(d)” for “The taxes imposed by this chapter on individuals”.
Amendment by Pub. L. 105–206 effective, except as otherwise provided, as if included in the provisions of the Taxpayer Relief Act of 1997, Pub. L. 105–34, to which such amendment relates, see section 6024 of Pub. L. 105–206, set out as a note under section 1 of this title.
Amendment by Pub. L. 105–34 effective as if included in the provisions of the Small Business Job Protection Act of 1996, Pub. L. 104–188, to which it relates, see section 1601(j) of Pub. L. 105–34, set out as a note under section 23 of this title.
Written determinations for this section
These documents, sometimes referred to as "Private Letter Rulings", are taken from the IRS Written Determinations page; the IRS also publishes a fuller explanation of what they are and what they mean. The collection is updated (at our end) daily. It appears that the IRS updates their listing every Friday.
Note that the IRS often titles documents in a very plain-vanilla, duplicative way. Do not assume that identically-titled documents are the same, or that a later document supersedes another with the same title. That is unlikely to be the case.
Release dates appear exactly as we get them from the IRS. Some are clearly wrong, but we have made no attempt to correct them, as we have no way guess correctly in all cases, and do not wish to add to the confusion.
We truncate results at 20000 items. After that, you're on your own.
- Imposition of Tax : 2017-07-07
- Of Estate : 2004-12-24
- Imposition of Tax : 2002-10-04
- Tax On Generation Skipping Transfers : 2002-07-19
- Special Valuation Rules for Transfers in Trust : 2002-07-19
- Gross Income v. Not Gross Income : 2002-07-19
- Imposition of Tax : 2002-07-19
- Imposition of Gift Tax Imposed v. Not Imposed : 2002-07-19
- Non-Resident Alien as Shareholder : 2002-06-28
- Termination of Estates and Trusts : 2002-06-28
- Persons Treated as Grantors : 2000-05-12
- General Powers of Administration : 2000-05-12
- Discharge of Obligation of Grantor or Spouse : 2000-05-12
- Power to Revoke : 2000-05-12
- Value of Reversionary Interests : 2000-05-12
- Powers to Distribute Corpus : 2000-05-12
- Cash Basis : 2000-05-12
- Property Held in Trust : 2000-05-12
- Special Rules : 1999-07-09
- Imposition of Tax : 1999-07-09
- Generation Skipping Transfer Defined : 1999-07-09
- Taxable Termination Taxable Distribution Direct Skip : 1999-07-09
- Imposition of Tax : 1999-02-19
- Annual Theory : 1999-02-19
- Compensation : 1999-02-19
- Transferability of Property : 1999-02-19
- Character of Amounts : 1999-02-19
- Beneficiary Defined : 1999-02-19
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