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

Law360 (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.

The Kimberley Rice Kaestner 1992 Family Trust was formed by New York resident Joseph Lee Rice III, who named a trustee who was also a resident of New York. North Carolina sought to tax the trust, which was for the benefit...

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!

TRY LAW360 FREE FOR SEVEN DAYS