Distribution of Amounts to Avoid Tax Liability

  1. Law
  2. Tennessee Code
  3. Fiduciaries and Trust Estates
  4. Administration of Private Foundations, Charitable Trusts or Split-Interest Trusts
  5. Distribution of Amounts to Avoid Tax Liability

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In the administration of any trust that is a private foundation or that is a charitable trust, there shall be distributed, for the purposes specified in the trust instrument, for each taxable year, amounts at least sufficient to avoid liability for the tax imposed by § 4942(a) of the Internal Revenue Code of 1954 (26 U.S.C. §  4942(a)).


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