§ 14-305. Private foundations and charitable trusts
West's Annotated Code of MarylandEstates and Trusts
MD Code, Estates and Trusts, § 14-305
§ 14-305. Private foundations and charitable trusts
In the administration of any trust which is a “private foundation” as defined in § 509 of the Internal Revenue Code, or which is a “charitable trust” as defined in § 4947 (a)(1) of the Internal Revenue Code, 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.
Credits
Added by Acts 1974, c. 11, § 2, eff. July 1, 1974. Amended by Acts 1988, c. 110, § 1.
Formerly Art. 16, § 199E.
MD Code, Estates and Trusts, § 14-305, MD EST & TRST § 14-305
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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