Changes in the federal tax laws have provided a renewed focus on state income taxes and strategies available to minimize these taxes.While personal trusts have been used most commonly as estate and gift tax planning vehicles, they now have increased importance as tools for minimizing a family’s federal and state income tax liability.
Our series of Tax Reform Insights holistically examines how different aspects of planning were impacted under the new law. Tax reform created many opportunities to help you plan for your legacy goals in the most tax advantaged way.Our eBook provides a compilation of all of the articles in the Tax Reform InsightsThis digital resource puts timely tax planning information right at your fingertips, in one easy-to-access location.
An important four-part series that discusses a host of issues involving state income taxes on trusts. Part One provides an overview of the various approaches to taxation of trust income, then reviews the various constitutional restrictions, as reflected in numerous federal and state cases.Part Two further examines these aspects, beginning with a discussion of the seminal U.S. Supreme Court case of Quill Corp. v.