N.Y. EPT Law § 11-A-4.12

§ 11-A-4.12 Timber\n (a) To the extent that a trustee accounts for receipts from the sale\nof timber and related products pursuant to this section, the trustee\nshall allocate the net receipts:\n (1) to income to the extent that the amount of timber removed from the\nland does not exceed the rate of growth of the timber during the\naccounting periods in which a beneficiary has a mandatory income\ninterest;\n (2) to principal to the extent that the amount of timber removed from\nthe land exceeds the rate of growth of the timber or the net receipts\nare from the sale of standing timber;\n (3) to or between income and principal if the net receipts are from\nthe lease of timberland or from a contract to cut timber from land owned\nby a trust, by determining the amount of timber removed from the land\nunder the lease or contract and applying the rules in subparagraphs (1)\nand (2); or\n (4) to principal to the extent that advance payments, bonuses, and\nother payments are not allocated pursuant to subparagraph (1), (2), or\n(3).\n (b) In determining net receipts to be allocated pursuant to paragraph\n(a), a trustee shall deduct and transfer to principal a reasonable\namount for depletion.\n (c) This article applies whether or not a decedent or transferor was\nharvesting timber from the property before it became subject to the\ntrust.\n (d) If a trust owns an interest in timberland on the effective date of\nthis article, the trustee may allocate net receipts from the sale of\ntimber and related products as provided in this article or in the manner\nused by the trustee before the effective date of this article. If the\ntrust acquires an interest in timberland after the effective date of\nthis article, the trustee shall allocate net receipts from the sale of\ntimber and related products as provided in this article.\n