55-9-6. Restrictions to avoid taxability of income--Definition of terms.

149 words·~1 min read·/sd/title-55/chapter-55-9/55-9-6

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Terms as used in §§ 55-9-6 to 55-9-14 , inclusive shall have the following meaning:

(1)"Charitable trust," as defined in section 4947 (a)(1) of the Internal Revenue Code;

(2)"Excess business holdings," as defined in section 4943

(c)of the Internal Revenue Code;

(3)"Internal Revenue Code," the United States Internal Revenue Code of 1954, as amended;

(4)"Private foundation," as defined in section 509

(a)of the Internal Revenue Code;

(5)"Self - dealing," as defined in section 4941

(d)of the Internal Revenue Code;

(6)"Split - interest," as defined in section 4947 (a)(2) of the Internal Revenue Code;

(7)"Taxable expenditure," as defined in section 4945

(d)of the Internal Revenue Code;

(8)"Trustee," a corporation, individual, or other legal entity acting as an original, added, or successor trustee of a testamentary or inter vivos trust estate, whichever in a particular case shall be appropriate.