Sec. 4. As used in this chapter, "income" means money or property that a fiduciary receives as current return from a principal asset. The term includes a portion of receipts from a sale, exchange, or liquidation of a principal asset, to the extent provided in sections 21 through 35 of this chapter.
Ind. Code § 30-2-14-4
"Income" defined
Applied in 1 court decision — leading case Indiana Department of State Revenue, Inheritance Tax Division v. Steven B. McCombs, of the Estate of Janic Hamblin (2015)
Most recently applied in Indiana Department of State Revenue, Inheritance Tax Division v. Steven B. McCombs, of the Estate of Janic Hamblin (August 2015)
As added by P.L.84-2002, SEC.2.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.