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. North Dakota and its progeny in state courts, then provides a constitutional analysis of taxation based on the residence of the testator or trustor.
  • Part Three examines taxation of trusts administered in the taxing state and based on the residence of the fiduciaries or beneficiaries, and then discusses planning considerations for both new and existing trusts.
  • Part Four concludes with an analysis of home state court concerns and a host of other issues involving state income taxes on trusts to be considered by both the planner and the trustee.

This series was published in West’s Estate, Tax, and Personal Financial Planning treatise earlier this year. This multi-volume treatise, which is authored by renowned estate planning attorney Edward F. Koren, covers the laws of wills, trusts, and the various taxes that affect lifetime and testamentary transfers and the income of estates and trusts.

Please see important disclosures at the end of the article.

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