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us il code 35 p7

(35 ILCS 5/306) (from Ch. 120, par. 3-306) Sec. 306. Allocation or apportionment of income by estates and trusts. The items of income and deduction taken into account by an estate or trust in computing its base income for a taxable year shall be allocated or apportioned to this State to the extent provided by Sections 301 through 304 and, to the extent properly paid, credited or required to be distributed to beneficiaries for such taxable year, shall be deemed to have been so paid, credited or distributed pro rata. (Source: P.A. 76-2402.)

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statutes/35/5/306.yaml

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Rules

beneficiary_pro_rata_illinois_allocated_item_amount

Derived

source: 35 ILCS 5/306

- name: beneficiary_pro_rata_illinois_allocated_item_amount
  kind: derived
  entity: Person
  dtype: Money
  period: Year
  unit: USD
  source: 35 ILCS 5/306
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-il/statute/35/5/306
            excerpt: >-
              allocated or apportioned to this State to the extent provided by Sections 301 through
              304
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-il/statute/35/5/306
            excerpt: >-
              to the extent properly paid, credited or required to be distributed to beneficiaries
              ... shall be deemed to have been so paid, credited or distributed pro rata
  versions:
    - effective_from: '2017-07-01'
      formula: >-
        if item_taken_into_account_by_estate_or_trust_in_computing_base_income: max(0,
        illinois_allocated_or_apportioned_item_amount_under_sections_301_through_304 *
        beneficiary_pro_rata_share_of_items_properly_paid_credited_or_required_to_be_distributed)
        else: 0

▸citations (1)

References

This rule cites 1 other rule.

IL 35 § 301inferredIL › Statutes › Title 35 › § 301