Justices Question NC Tax On Resident's Foreign Trust
By Maria Koklanaris (April 16, 2019, 7:40 PM EDT) -- U.S. Supreme Court justices questioned Tuesday whether a North Carolina beneficiary's expectation of distribution from a trust gave the state taxing rights, even though its settlor and initial trustee were out of state and distributions weren't guaranteed.
The U.S. Supreme Court heard arguments Tuesday in a case about North Carolina's right to tax a trust whose beneficiary lived in the state, but whose settlor and initial trustee were out of state. (AP) The justices heard oral arguments in a case pitting North Carolina's Department of Revenue against the Kimberley Rice Kaestner 1992 Family Trust, whose beneficiary lived in North Carolina. The...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!