The scope of state authority in taxing trusts was at the center of April 16 Supreme Court oral arguments.
Several justices questioned whether states should be able to tax trusts if the trust beneficiary hasn’t yet received the money and isn’t guaranteed to do so. The issue at the center of the case, N.C. Dep’t of Revenue v. The Kimberley Rice Kaestner 1992 Family Trust, is whether a trust beneficiary living in a state establishes enough of a connection for the state to tax it.
Regardless of how the high court rules, it will continue to be a challenge ...
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