| MASSACHUSETTS DEPARTMENT OF REVENUE REGULATION FACT SHEET |
| TITLE: 830 CMR 62.8.2: Corporate Trust Income and Distributions |
| SUMMARY OF REGULATION: This regulation explains the mechanics of how a trust beneficiary calculates a credit to be taken at the beneficiary level for income taxes paid on such income by the corporate trust to other jurisdictions. In addition, the regulation clarifies the Department's position as supported by the amendment to G.L. c. 62, § 8, that non-Massachusetts apportioned income is included in the definition of "tax free earnings and profits" for purposes of § 8. |
| REGULATORY HISTORY: |
| Regulation Promulgated 12/21/2001. |
| PREPARED BY: Massachusetts Department of Revenue |
| Rulings and Regulations Bureau |
| 100 Cambridge Street, 7th floor |
| Boston, Massachusetts 02114 |
| (617) 626-3250 |
FAX: (617) 626-3290 December 21, 2001 |