Texas § PR.116.205 - INCOME TAXES
Full text of Texas The Texas Constitution § PR.116.205 — INCOME TAXES, with citation guidance and answers to common questions.
§ PR.116.205. INCOME TAXES
INCOME TAXES. (a) A tax required to be paid by a trustee based on receipts allocated to income must be paid from income. (b) A tax required to be paid by a trustee based on receipts allocated to principal must be paid from principal, even if the tax is called an income tax by the taxing authority. (c) A tax required to be paid by a trustee on the trust's share of an entity's taxable income must be paid: (1) from income to the extent that receipts from the entity are allocated only to income; (2) from principal to the extent that receipts from the entity are allocated only to principal; (3) proportionately from principal and income to the extent that receipts from the entity are allocated to both principal and income; and (4) from principal to the extent that the tax exceeds the total receipts from the entity. (d) After applying the other provisions 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 payments made to a beneficiary. Added by Acts 2003, 78th Leg., ch. 659, Sec. 1, eff. Jan. 1, 2004. Amended by: Acts 2011, 82nd Leg., R.S., Ch. 657 (S.B. 1197 ), Sec. 8, eff. September 1, 2011.
Frequently Asked Questions About Texas § PR.116.205
What does The Texas Constitution § PR.116.205 cover?
Section PR.116.205 ("INCOME TAXES") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § PR.116.205?
A common citation format is "The Texas Constitution § PR.116.205" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § PR.116.205 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.