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The Vermont Statutes Online



Title

11

:
Corporations, Partnerships and Associations






Chapter

001

:
CORPORATIONS GENERALLY






Subchapter

008
:
PRIVATE FOUNDATIONS










 

§

566. Distribution required

In the

administration of any trust which is a "private foundation" as

defined in Section 509 of the Internal Revenue Code of 1986, or which is a

"charitable trust" as defined in Section 4947(a)(1) of the Internal

Revenue Code of 1986, 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 Section 4942(a) of the Internal Revenue

Code of 1986. (1971, No. 112, § 6.)