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Statutes » New York » GCT Law » Article 2-D

N.Y. GCT Law § 18

This is the official text of N.Y. GCT Law § 18, part of New York’s GCT Law — part of the compiled statutory law of New York, published by the state as "GCT Law." Browse the sections below, each linked to its official government source.

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City taxable income of a resident estate or trust

Official statutory text

§ 18. City taxable income of a resident estate or trust.--The city\ntaxable income of a resident estate or trust means its federal taxable\nincome as defined in the laws of the United States for the taxable year,\nwith the following modifications:\n (a) There shall be subtracted six hundred dollars as the city\nexemption of the estate or trust, and there shall be added the amount of\nits federal deduction for a personal exemption.\n (b) There shall be subtracted the modification described in paragraph\nnine of subsection (c) of section twelve with respect to gains from the\nsale or other disposition of property, to the extent such gains are\nexcluded from federal distributable net income of the estate or trust.\n (c) There shall be added or subtracted (as the case may be) the share\nof the estate or trust in the city fiduciary adjustment determined under\nsection nineteen.\n (d) There shall be added or subtracted (as the case may be) the\nmodifications described in paragraph six of subsection (b) and in\nparagraph eight of subsection (c) of section twelve.\n

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.