Supreme Court Limits States’ Ability to Tax Trust Income

Trust Income

On June 21, 2019, the Supreme Court unanimously agreed to limit States’ ability to tax trust income.  Justice Sotomayor delivered the opinion for the case, entitled North Carolina Dept. of Revenue v. Kimberly Rice Kaestner 1992 Family Trust. In the Kaestner Trust case, Joseph Lee Rice III had set up a trust in New York […]