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Ohio Can’t Tax Del. Trust Over Stock Sale, Justices Told

Law360, Washington (July 21, 2017, 10:34 PM EDT) -- A Delaware trust that netted $18 million from the sale of stock in an Ohio trucking logistics company has asked the Supreme Court to prevent the state of Ohio from slapping it with income taxes, arguing the state lacks taxing authority to do so.

The T. Ryan Legg Irrevocable Trust is appealing an Ohio Supreme Court decision finding that the state properly imposed income taxes on the sale. The trust told the U.S. Supreme Court in a petition filed on July 13 that it doesn’t have the requisite connection with Ohio that would allow the state to exercise jurisdiction over it....

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