NJ Tax Stop: Where State Trusts Should Look For Tax Insight

By Jennifer Lota and Isabelle Jacobs (August 14, 2019, 5:36 PM EDT) -- In a recently issued unanimous yet narrow decision, North Carolina Department of Revenue v. The Kimberley Rice Kaestner 1992 Family Trust,[1] the U.S. Supreme Court held that where the sole connection of a trust to the state of North Carolina is the residency of the trust beneficiaries, the state's taxation of the undistributed trust income violates the due process clause....

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