{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/58.1-361.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/58.1-361.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/58.1-361.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/58.1-361.html"}],"law_id":55909,"edition_id":1,"section_id":55909,"structure_id":14499,"section_number":"58.1-361","catch_line":"Virginia taxable income of a resident estate or trust","history":"Code 1950, \u00a7\u00a7 58-151.022, 58-151.023; 1971, Ex. Sess., c. 171; 1972, c. 827; 1973, c. 198; 1984, c. 675.","full_text":"A\n\nThe Virginia taxable income of a resident estate or trust means its federal taxable income for the taxable year to which there shall be added or subtracted, as the case may be, the share of the estate or trust in the Virginia fiduciary adjustment determined under subsection B.B\n\nThe respective shares of an estate or trust and its beneficiaries (including, solely for the purpose of this allocation, nonresident beneficiaries) in the Virginia fiduciary adjustment shall be in proportion to their respective shares of distributable net income of the estate or trust. If the estate or trust has no distributable net income for the taxable year, the share of each beneficiary in the Virginia fiduciary adjustment shall be in proportion to his share of the estate or trust income for such year, under local law or the governing instrument, which is required to be distributed currently and any other amounts of such income distributed in such year. Any balance of the Virginia fiduciary adjustment shall be allocated to the estate or trust.","order_by":null,"text":{"0":{"id":204822,"text":"The Virginia taxable income of a resident estate or trust means its federal taxable income for the taxable year to which there shall be added or subtracted, as the case may be, the share of the estate or trust in the Virginia fiduciary adjustment determined under subsection B.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":204823,"text":"The respective shares of an estate or trust and its beneficiaries (including, solely for the purpose of this allocation, nonresident beneficiaries) in the Virginia fiduciary adjustment shall be in proportion to their respective shares of distributable net income of the estate or trust. If the estate or trust has no distributable net income for the taxable year, the share of each beneficiary in the Virginia fiduciary adjustment shall be in proportion to his share of the estate or trust income for such year, under local law or the governing instrument, which is required to be distributed currently and any other amounts of such income distributed in such year. Any balance of the Virginia fiduciary adjustment shall be allocated to the estate or trust.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":14499,"edition_id":1,"name":"Taxation of Estates and Trusts","identifier":"6","label":"article","depth":4,"order_by":1,"parent_id":13152,"metadata":{},"date_created":"2026-06-26 03:48:22","date_modified":"2026-06-26 03:48:22","permalink":{"id":254397,"object_type":"structure","relational_id":14499,"identifier":"6","token":"58.1\/I\/3\/6","url":"\/58.1\/I\/3\/6\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13152,"edition_id":1,"name":"Income Tax","identifier":"3","label":"chapter","depth":3,"order_by":1,"parent_id":12837,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":253267,"object_type":"structure","relational_id":13152,"identifier":"3","token":"58.1\/I\/3","url":"\/58.1\/I\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12837,"edition_id":1,"name":"Taxes Administered by the Department of Taxation","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12703,"metadata":{},"date_created":"2026-06-26 03:43:55","date_modified":"2026-06-26 03:43:55","permalink":{"id":252075,"object_type":"structure","relational_id":12837,"identifier":"I","token":"58.1\/I","url":"\/58.1\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12703,"edition_id":1,"name":"Taxation","identifier":"58.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":251959,"object_type":"structure","relational_id":12703,"identifier":"58.1","token":"58.1","url":"\/58.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":82371,"structure_id":14499,"section_number":"58.1-360","catch_line":"Imposition of tax","url":"\/58.1-360\/","token":"58.1\/I\/3\/6\/58.1-360","metadata":false},{"id":55909,"structure_id":14499,"section_number":"58.1-361","catch_line":"Virginia taxable income of a resident estate or trust","url":"\/58.1-361\/","token":"58.1\/I\/3\/6\/58.1-361","metadata":false},{"id":69759,"structure_id":14499,"section_number":"58.1-362","catch_line":"Virginia taxable income of a nonresident estate or trust","url":"\/58.1-362\/","token":"58.1\/I\/3\/6\/58.1-362","metadata":false},{"id":57467,"structure_id":14499,"section_number":"58.1-363","catch_line":"Share of a nonresident estate, trust, or beneficiary in income from Virginia sources","url":"\/58.1-363\/","token":"58.1\/I\/3\/6\/58.1-363","metadata":false}],"previous_section":{"id":82371,"structure_id":14499,"section_number":"58.1-360","catch_line":"Imposition of tax","url":"\/58.1-360\/","token":"58.1\/I\/3\/6\/58.1-360","metadata":false},"next_section":{"id":69759,"structure_id":14499,"section_number":"58.1-362","catch_line":"Virginia taxable income of a nonresident estate or trust","url":"\/58.1-362\/","token":"58.1\/I\/3\/6\/58.1-362","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/58.1-361\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 3 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1972, chapter 827; in 1973, chapter 198; in 1984, chapter 675.<\/p>","references":false,"refers_to":false,"permalink":{"id":254403,"object_type":"law","relational_id":55909,"identifier":"58.1-361","token":"58.1\/I\/3\/6\/58.1-361","url":"\/58.1-361\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/58.1-361\/","token":"58.1\/I\/3\/6\/58.1-361","dublin_core":{"Title":"Virginia taxable income of a resident estate or trust","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-361","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The Virginia taxable income of a resident<\/span> estate<\/span> or trust<\/span> means its federal taxable income for the taxable year to which there shall be added or subtracted, as the case may be, the share of the estate<\/span> or trust<\/span> in the Virginia fiduciary adjustment<\/span> determined under subsection B. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The respective shares of an estate<\/span> or trust<\/span> and its beneficiaries (including, solely for the purpose of this allocation, nonresident beneficiaries) in the Virginia fiduciary adjustment<\/span> shall be in proportion to their respective shares of distributable net income of the estate<\/span> or trust<\/span>. If the estate<\/span> or trust<\/span> has no distributable net income for the taxable year, the share of each beneficiary in the Virginia fiduciary adjustment<\/span> shall be in proportion to his share of the estate<\/span> or trust<\/span> income for such year, under local law<\/span> or the governing instrument, which is required to be distributed currently and any other amounts of such income distributed in such year. Any balance of the Virginia fiduciary adjustment<\/span> shall be allocated to the estate<\/span> or trust<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nVIRGINIA TAXABLE INCOME OF A RESIDENT ESTATE OR TRUST (\u00a7 58.1-361)\n\nA. The Virginia taxable income of a resident estate or trust means its federal\ntaxable income for the taxable year to which there shall be added or subtracted,\nas the case may be, the share of the estate or trust in the Virginia fiduciary\nadjustment determined under subsection B.\n\nB. The respective shares of an estate or trust and its beneficiaries (including,\nsolely for the purpose of this allocation, nonresident beneficiaries) in the\nVirginia fiduciary adjustment shall be in proportion to their respective shares\nof distributable net income of the estate or trust. If the estate or trust has\nno distributable net income for the taxable year, the share of each beneficiary\nin the Virginia fiduciary adjustment shall be in proportion to his share of the\nestate or trust income for such year, under local law or the governing\ninstrument, which is required to be distributed currently and any other amounts\nof such income distributed in such year. Any balance of the Virginia fiduciary\nadjustment shall be allocated to the estate or trust.\n\nHISTORY: Code 1950, \u00a7\u00a7 58-151.022, 58-151.023; 1971, Ex. Sess., c. 171; 1972,\nc. 827; 1973, c. 198; 1984, c. 675.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}