58.1-362 - Virginia taxable income of a nonresident estate or trust. - Virginia Statutes

§ 58.1-362. Virginia taxable income of a nonresident estate or trust.

The Virginia taxable income of a nonresident estate or trust shall be itsshare of income, gain, loss and deduction attributable to Virginia sources asdetermined under § 58.1-363 increased or reduced, as the case may be, by:

1. The amount derived from or connected with Virginia sources of any income,gain, loss and deduction recognized for federal income tax purposes butexcluded from the computation of distributable net income of the estate ortrust; and

2. The net amount of any modifications as provided for in § 58.1-322 (notincluding subsection D thereof) with respect to the income or gain referredto in subdivision 1 of this section.

(Code 1950, § 58-151.024; 1971, Ex. Sess., c. 171; 1972, c. 827; 1984, c.675.)