634.3  Distribution to avoid tax liability.

The trust instrument of each trust to which this chapter applies, except split-interest trusts, shall be deemed to contain a provision requiring the trustee to distribute for the purposes specified in the trust instrument for each taxable year of the trust amounts at least sufficient to avoid liability for the tax imposed by section 4942(a) of the Internal Revenue Code.

Section History: Early form

  [C73, 75, 77, 79, 81, § 634.3]

Internal References

  Referred to in § 634.6

Previous Section 634.2

Next Section 634.4

Return To Home index

© 2001 Cornell College and League of Women Voters of Iowa

Comments about this site or page? webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.

Last update: Mon Jan 22 17:13:42 CST 2001
URL: /DOCS/IACODE/2001/634/3.html
jhf