In an unanimous decision, the Supreme Court strikes down North Carolina’s attempt to tax undistributed income of a resident trust properly sitused and administered in a no income tax state like South Dakota. You can read more about it by clicking here. Indicating that to do so is a violation of due process, the Court’s decision is a very important affirmation and validation of powerful state tax planning tools available in non-income tax jurisdictions, and again, underscores the vital importance of selecting proper trust jurisdiction in the planning process.
Join Bridgeford Trust, William Lipkind (Attorney, Partner, and Chair of Wilson Elser’s Tax Planning & Controversies practice), and Terry Prendergast (Of Counsel at Davenport, Evans, Hurwitz & Smith, LLP) for an informative webinar on Tuesday, July 9th at 2:00pm EST as we discuss the case and its practical implications with respect to state tax planning and the power of utilizing sophisticated modern trust law planning techniques, only available in top tier trust jurisdictions like South Dakota.
Webinar: Tuesday, July 9 at 2PM EST
Bridgeford Trust is proud to share that we joined forces with trust companies from South Dakota, and across the nation, to fund an Amicus Brief filed with the Court in support of the taxpayer, and the important constitutional issues at stake in this case. It was a very impressive effort, pulling together trust and legal professionals from all over the country with the focus of having a positive impact on the Court’s analysis in this very important case. The Court’s decision is a victory for the trust industry and planning community, and affirms powerful state tax planning techniques available by simply selecting the proper trust jurisdiction for trust formation and administration. Click here for information about these techniques and click here for a detailed chart comparing top tier trust jurisdictions.
We hope you can join us for this webinar! For more information, please contact Bridgeford Trust via our contact page.
