New York Laws
Sub Part 3 - Receipts Normally Apportioned
11-A-4.10 - Liquidating Asset

(a) In this section, "liquidating asset" means an asset whose value
will diminish or terminate because the asset is expected to produce
receipts for a period of limited duration. The term includes a
leasehold, patent, copyright, royalty right, and right to receive
payments during a period of more than one year under an arrangement that
does not provide for the payment of interest on the unpaid balance. The
term does not include a payment subject to 11-A-4.9, resources subject
to 11-A-4.11, timber subject to 11-A-4.12, an activity subject to
11-A-4.14, an asset subject to 11-A-4.15, or any asset for which the
trustee establishes a reserve for depreciation under 11-A-5.3.
(b) A trustee shall allocate to income ten percent of the receipts
from a liquidating asset and the balance to principal.

Structure New York Laws