Estate planning could get trickier depending on how the U.S. Supreme Court rules in a case involving taxation of trust income based on where beneficiaries live.
The high court is scheduled to hear arguments April 16 in N.C. Dep’t of Revenue v. The Kimberley Rice Kaestner 1992 Family Trust. It will consider the link a state must have with a trust in order to tax it—the due process clause says that an entity must have at least a minimal connection with the state seeking to tax it.
There is potentially a significant amount of money at ...
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