Mississippi Code
Article 5 - Allocation of Disbursements During Administration of Trust
§ 91-17-505. Income taxes

A tax required to be paid by a trustee based on receipts allocated to income must be paid from income.
A tax required to be paid by a trustee based on receipts allocated to principal must be paid from principal, even if the tax is called an income tax by the taxing authority.
A tax required to be paid by a trustee on the trust's share of an entity's taxable income must be paid:
After applying subsections (a) through (c), the trustee shall adjust income or principal receipts to the extent that the trust's taxes are reduced because the trust receives a deduction for payments made to a beneficiary.

Structure Mississippi Code