Indiana Code 33-44-7-7. Income received by board from remittance of interest not taxable to attorney or client
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Sec. 7. For purposes of Indiana law, income received by the board from the remittance of interest is not taxable to:
(2) the client whose funds are deposited in the interest bearing attorney trust account.
(1) the attorney maintaining the interest bearing attorney trust account; or
Terms Used In Indiana Code 33-44-7-7
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
[Pre-2004 Recodification Citation: 33-20-7-7.]
As added by P.L.98-2004, SEC.23.