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Mo. Rev. Stat. § 469.459

Taxes to be paid from income or principal, when

Known as the Uniform Fiduciaries Law

The act spans §§ 469–469 (73 sections).

Effective: 28 Aug 2011, 2 histories; (L. 2001 H.B. 241, A.L. 2011 S.B. 59)

1. A tax required to be paid by a trustee based on receipts allocated to income shall be paid from income.

2. A tax required to be paid by a trustee based on receipts allocated to principal shall be paid from principal, even if the tax is called an income tax by the taxing authority.

3. A tax required to be paid by a trustee on the trust's share of an entity's taxable income shall be paid:

(1) From income to the extent that receipts from the entity are allocated to income; and

(2) From principal to the extent that receipts from the entity are allocated only to principal.

4. After applying subsections 1 to 3 of this section, the trustee shall adjust income or principal receipts to the extent that the trust's taxes are reduced because the trust receives a deduction for payment made to a beneficiary.

Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.