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 Laws of New York (Last Updated: November 21, 2014)
  TAX Tax
 Article 22. PERSONAL INCOME TAX
 Part III. NONRESIDENTS AND PART-YEAR RESIDENTS * 631. New York source income of a nonresident individual. * 632. Nonresident partners and electing shareholders of S corporations. * 633. New York source income of a nonresident estate or trust. * 634. Share of a nonresident beneficiary in income from New York sources. * 635. Credit to trust beneficiary receiving accumulation distribution. * 636. New York minimum taxable income of nonresidents or part-year residents. * 637. Computation of separate tax on the ordinary income portion of lump sum distributions received by nonresident or part-year resident individuals, estates and trusts. * 638. New York source income of a part-year resident. 639. Accruals upon change of residence. * NB Applicable to taxable years beginning after 1987. * PART III-NONRESIDENTS * 631. New York taxable income of a nonresident individual * 632. New York adjusted gross income of a nonresident individual. * 633. New York deduction of a nonresident individual * 634. New York standard deduction of a nonresident individual. * 635. New York itemized deduction of a nonresident individual. * 636. New York personal exemptions of a nonresident individual. * 637. Nonresident partners and electing shareholders of S corporations. * 638*. New York taxable income of a nonresident estate or trust. * 641. New York minimum taxable income of nonresidents. * 642. Computation of separate tax on the ordinary income portion of lump sum distributions received by nonresident individuals, estates and trusts. * (Repealed for taxable years beginning after 1987)

  Section 635. Credit to trust beneficiary receiving accumulation distribution  

Latest version. 
  • A nonresident or part-year resident beneficiary of a trust  whose New York source income includes all or  part  of  an  accumulation
  distribution by such trust, as defined in section six hundred sixty-five
  of  the internal revenue code, shall be allowed a credit against the tax
  otherwise due under this  article,  computed  in  the  same  manner  and
  subject  to  the  same  limitation  as  provided  by section six hundred
  twenty-one with respect to  a  resident  beneficiary  except  that  such
  limitation  shall be applied as if it also referred to an exclusion from
  New York source income.