N.Y. General City Law art. 2-D, § 18: City taxable income of a resident estate or trust

§ 18. City taxable income of a resident estate or trust.--The city

taxable income of a resident estate or trust means its federal taxable

income as defined in the laws of the United States for the taxable year,

with the following modifications:

(a) There shall be subtracted six hundred dollars as the city

exemption of the estate or trust, and there shall be added the amount of

its federal deduction for a personal exemption.

(b) There shall be subtracted the modification described in paragraph

nine of subsection (c) of section twelve with respect to gains from the

sale or other disposition of property, to the extent such gains are

excluded from federal distributable net income of the estate or trust.

(c) There shall be added or subtracted (as the case may be) the share

of the estate or trust in the city fiduciary adjustment determined under

section nineteen.

(d) There shall be added or subtracted (as the case may be) the

modifications described in paragraph six of subsection (b) and in

paragraph eight of subsection (c) of section twelve.