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us-ma/statute/62/14/block-2 — Section 14: Applicability to corporate trustees · Axiom

Section 14: Applicability to corporate trustees

Section 14. Corporations acting as trustee or in any other fiduciary capacity shall, with respect to the income received by them in that capacity, be subject to this chapter in the same manner and under the same conditions as individual inhabitants of the commonwealth acting in similar capacities, except that no such corporation shall be taxed on account of any property the income of which would be taxable if received by an individual inhabitant, or on account of the income derived from such property, if such property is held by such corporation as mortgagee or pledge to secure the payment of bonds, notes or other evidences of indebtedness the interest on which is subject to taxation to such individual inhabitants of the commonwealth as received it, or the principal of which is exempt from taxation under laws other than this chapter.

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Whole section

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statutes/62/14.yaml

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Rules

fiduciary_corporation_mortgagee_or_pledgee_tax_exception_applies

Derived

source: M.G.L. c. 62, § 14

- name: fiduciary_corporation_mortgagee_or_pledgee_tax_exception_applies
  kind: derived
  entity: Corporation
  dtype: Judgment
  period: Year
  source: M.G.L. c. 62, § 14
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us-ma/statute/62/14
            excerpt: >-
              no such corporation shall be taxed on account of any property the income of which
              would be taxable if received by an individual inhabitant
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us-ma/statute/62/14
            excerpt: >-
              if such property is held by such corporation as mortgagee or pledge to secure the
              payment of bonds, notes or other evidences of indebtedness
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us-ma/statute/62/14
            excerpt: >-
              the interest on which is subject to taxation to such individual inhabitants of the
              commonwealth as received it
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us-ma/statute/62/14
            excerpt: or the principal of which is exempt from taxation under laws other than this chapter
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        property_income_would_be_taxable_if_received_by_individual_inhabitant

        and
        property_held_by_corporation_as_mortgagee_or_pledge_to_secure_payment_of_bonds_notes_or_other_evidences_of_indebtedness

        and
        (interest_on_secured_indebtedness_subject_to_taxation_to_individual_inhabitants_who_received_it

        or
        principal_of_secured_indebtedness_exempt_from_taxation_under_laws_other_than_this_chapter)

fiduciary_corporation_income_subject_to_chapter

Derived

source: M.G.L. c. 62, § 14

- name: fiduciary_corporation_income_subject_to_chapter
  kind: derived
  entity: Corporation
  dtype: Judgment
  period: Year
  source: M.G.L. c. 62, § 14
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-ma/statute/62/14
            excerpt: Corporations acting as trustee or in any other fiduciary capacity
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-ma/statute/62/14
            excerpt: with respect to the income received by them in that capacity
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-ma/statute/62/14
            excerpt: >-
              shall ... be subject to this chapter in the same manner and under the same conditions
              as individual inhabitants
        - path: versions[0].formula
          kind: import
          import:
            target: us-ma:statutes/62/14#fiduciary_corporation_mortgagee_or_pledgee_tax_exception_applies
            output: fiduciary_corporation_mortgagee_or_pledgee_tax_exception_applies
            hash: sha256:local
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        corporation_acting_as_trustee_or_other_fiduciary
        and income_received_by_corporation_in_that_capacity
        and not fiduciary_corporation_mortgagee_or_pledgee_tax_exception_applies

▸citations (1)

References

This rule cites 1 other rule.

MA 62 § 14inferredMA › Statutes › Title 62 › § 14

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Section 14: Applicability to corporate trustees

Official source

in view

Whole section

▸rulespec code

Shown source

statutes/62/14.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us-ma/statute/62/14; no dedicated encoding exists for this exact provision yet.

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Rules

fiduciary_corporation_mortgagee_or_pledgee_tax_exception_applies

Derived

source: M.G.L. c. 62, § 14

- name: fiduciary_corporation_mortgagee_or_pledgee_tax_exception_applies
  kind: derived
  entity: Corporation
  dtype: Judgment
  period: Year
  source: M.G.L. c. 62, § 14
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us-ma/statute/62/14
            excerpt: >-
              no such corporation shall be taxed on account of any property the income of which
              would be taxable if received by an individual inhabitant
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us-ma/statute/62/14
            excerpt: >-
              if such property is held by such corporation as mortgagee or pledge to secure the
              payment of bonds, notes or other evidences of indebtedness
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us-ma/statute/62/14
            excerpt: >-
              the interest on which is subject to taxation to such individual inhabitants of the
              commonwealth as received it
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us-ma/statute/62/14
            excerpt: or the principal of which is exempt from taxation under laws other than this chapter
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        property_income_would_be_taxable_if_received_by_individual_inhabitant

        and
        property_held_by_corporation_as_mortgagee_or_pledge_to_secure_payment_of_bonds_notes_or_other_evidences_of_indebtedness

        and
        (interest_on_secured_indebtedness_subject_to_taxation_to_individual_inhabitants_who_received_it

        or
        principal_of_secured_indebtedness_exempt_from_taxation_under_laws_other_than_this_chapter)

fiduciary_corporation_income_subject_to_chapter

Derived

source: M.G.L. c. 62, § 14

- name: fiduciary_corporation_income_subject_to_chapter
  kind: derived
  entity: Corporation
  dtype: Judgment
  period: Year
  source: M.G.L. c. 62, § 14
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-ma/statute/62/14
            excerpt: Corporations acting as trustee or in any other fiduciary capacity
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-ma/statute/62/14
            excerpt: with respect to the income received by them in that capacity
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-ma/statute/62/14
            excerpt: >-
              shall ... be subject to this chapter in the same manner and under the same conditions
              as individual inhabitants
        - path: versions[0].formula
          kind: import
          import:
            target: us-ma:statutes/62/14#fiduciary_corporation_mortgagee_or_pledgee_tax_exception_applies
            output: fiduciary_corporation_mortgagee_or_pledgee_tax_exception_applies
            hash: sha256:local
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        corporation_acting_as_trustee_or_other_fiduciary
        and income_received_by_corporation_in_that_capacity
        and not fiduciary_corporation_mortgagee_or_pledgee_tax_exception_applies

▸citations (1)

References

This rule cites 1 other rule.

MA 62 § 14inferredMA › Statutes › Title 62 › § 14