Section 603 - Separate tax on the ordinary income portion of lump sum distributions(a) Imposition of separate tax. In addition to any other tax imposed by this article, there is hereby imposed for each taxable year a separate tax on the ordinary income portion of a lump sum distribution of every individual, estate and trust which has made an election of lump sum treatment under subsection (e) of section four hundred two of the internal revenue code. The recipient of a lump sum distribution shall be liable for the tax imposed by this section. The credits against tax under this article, except for the credits under paragraphs two and four of subsection (c), paragraphs two and four of subsection (d) and subsection (e) of section six hundred six, section six hundred twenty-A and section six hundred seventy-three, shall not be allowed against the tax imposed by this section.(b) Cross reference. For computation of tax, see section six hundred twenty-four with respect to residents and section six hundred thirty-seven with respect to nonresidents and part-year residents.