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(35 ILCS 5/307) (from Ch. 120, par. 3-307)
Sec. 307.
Allocation of income by estate or trust beneficiaries other than residents.
(a) Allocation of business income by beneficiaries other than
residents. To the extent the business income of an estate or trust
allocated or apportioned to this State in the possession of
the estate or trust
is deemed to have been paid, credited or distributed by the estate or trust
under Section 306, the respective shares of beneficiaries of the estate
or trust, other than residents, in such business income shall be taken into
account by such beneficiaries in proportion to their respective shares of
the distributable net income of the estate or trust for its taxable year
and allocated to this State.
(b) Allocation of nonbusiness income by beneficiaries other than
residents. To the extent items of estate or trust income and deduction
not taken into account in computing the business income of an estate or
trust are deemed to have been paid, credited or distributed by the estate
or trust under Section 306, the respective shares of beneficiaries of the
estate or trust, other than residents, in such items shall be taken into
account by such beneficiaries in proportion to their respective shares of
the distributable net income of the estate or trust for its taxable year,
and allocated as if such items had been paid, incurred or accrued directly
to such beneficiaries in their separate capacities.
(c) Accumulation and capital gain distributions. In the event that,
in any taxable year of a trust, the trust makes an accumulation
distribution or a capital gain distribution (both as defined in Section 665
of the Internal Revenue Code), the total of the amounts which are
included in the income of each beneficiary of such trust, other than a
resident, under Sections 668 and 669 of the Internal Revenue Code shall
be allocated to this State to the extent that the items of income included
in such distribution were allocated or apportioned to this State in the
hands of the trust.
(d) Cross references. (1) For allocation of amounts received by
nonresidents from certain employee trusts, see Section 301 (b) (2).
(2) For allocation of estate or trust income or deductions by residents,
see Section 301 (a).
(Source: P.A. 84-550.)
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