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.
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.
Listen to learn more, and contact us to discuss this topic further at info@bridgefordtrust.com or by calling (605) 224-9189. You can also visit our website at www.bridgefordtrust.com.
Tax Planning
Trust Jurisdiction
