§ 290.281 — Common Trust Fund
Plain-Language Summary
A common trust fund (a pooled investment fund maintained by a bank for trust accounts) is not subject to Minnesota income tax. The federal Internal Revenue Code definitions and provisions for common trust funds apply.
290.281 COMMON TRUST FUND.
§
Subdivision 1.Not taxed; defined.
A common trust fund shall not be subject to taxation under this chapter and the definitions provided in and the provisions of section 584 of the Internal Revenue Code shall apply. §
Subd. 2.
[Repealed, 1982 c 523 art 1 s 72] §
Subd. 3.
[Repealed, 1982 c 523 art 1 s 72] §
Subd. 4.
[Repealed, 1982 c 523 art 1 s 72] §
Subd. 5.
[Repealed, 1990 c 480 art 1 s 45] §
Subd. 6.
[Repealed, 1982 c 523 art 1 s 72]
History:
1945 c 604 s 14; 1974 c 6 s 2; 1975 c 349 s 30; 1981 c 178 s 76; 1982 c 523 art 1 s 32; 1983 c 207 s 43; 1983 c 342 art 1 s 43; 1984 c 514 art 1 s 8; 1Sp1985 c 14 art 21 s 49; 1Sp1986 c 1 art 1 s 9; art 3 s 14; 1987 c 268 art 126; 1988 c 719 art 3 s 12; 1989 c 28 s 25; 1990 c 604 art 2 s 16; 1991 c 291 art 6 s 46; 1992 c 511 art 6 s 19; 1993 c 375 art 8 s 14; 1994 c 587 art 1 s 24
History: History: 1945 c 604 s 14; 1974 c 6 s 2; 1975 c 349 s 30; 1981 c 178 s 76; 1982 c 523 art 1 s 32; 1983 c 207 s 43; 1983 c 342 art 1 s 43; 1984 c 514 art 1 s 8; 1Sp1985 c 14 art 21 s 49; 1Sp1986 c 1 art 1 s 9; art 3 s 14; 1987 c 268 art 126; 1988 c 719 art 3 s 12; 1989 c 28 s 25; 1990 c 604 art 2 s 16; 1991 c 291 art 6 s 46; 1992 c 511 art 6 s 19; 1993 c 375 art 8 s 14; 1994 c 587 art 1 s 24