P.R. Laws tit. 13, § 30411
(a) Application of tax. — The tax imposed by this part on individuals shall apply to the income of estates or of any kind of property held in trust, including:
(1) Income accumulated in trust for the benefit of unborn or unascertained persons or persons with contingent interests, and income accumulated or held for future distribution under the terms of the will or trust;
(2) income which is to be distributed currently by the fiduciary to the beneficiaries, and income collected by a guardian of a minor which is to be held or distributed as the court may direct;
(3) income received by estates during the period of administration or settlement of the estate, and
(4) income which, in the discretion of the fiduciary, may be either distributed to the beneficiaries or accumulated.
(b) Computation and payment. — The tax shall be computed upon the net income of the estate or trust, and shall be paid by the fiduciary, except as provided in § 30415 of this title, related to revocable trusts, and § 30416 of this title, related to income for benefit of the grantor.
(c) Notwithstanding the provisions of this section, any trust that, as provided by law or regulation under the Federal Internal Revenue Code of 1986, United States Code Title 26, as amended, or by an analogous provision of a foreign country, is treated as a grantor trust for purposes of the federal government, shall also be treated as a grantor trust for purposes of this part, subject to the provisions of § 30416 of this title.
History —Jan. 31, 2011, No. 1, § 1083.01, retroactive to Jan. 1, 2011.