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This page contains a single entry by Associate Editor published on November 18, 2009 11:29 AM.

PLR 200946010: Trust Income is Exempt as Exercise of Essential Government Function was the previous entry in this blog.

PLR 200946001: Extension Granted to Allocate GSTT Exemption is the next entry in this blog.

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PLR200946028: Utility's Trust Income is Tax Exempt as Exercise of Essential Government Function

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Associate Editor
on November 18, 2009 TrackBacks (0) Comments (0)

In PLR200946028, the IRS ruled that the income from a trust created by a public utility to provide medical benefits to eligible retirees and their dependents is excludable from gross income under section 115(1) because the income is derived from the exercise of an essential government function.

Posted by Jessica DiLorenzo, Associate Editor, Wealth Strategies Journal.


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