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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.)