State Income Tax Issues with Trusts
This Cannon Teleconference will be only offered live in person at the Minnehaha Country Club. The recording will be posted in the SFEPC document library about a week after the event. CE will only be available for those attending the live event in person, unless the CE you're applying for allows credit for viewing recordings.
A buffet lunch will be served starting at 11:30 am. The webinar begins at noon.
Registration will close at 5 pm on Thursday, February 15th.
There’s a wide variety of fiduciary income tax laws among the states. In fact, many states have no fiduciary income tax at all or have a fiduciary income tax regime that is easily avoided. Given these facts, and considering our mobile society, estate planning professionals need to be conversant with how to structure estate planning vehicles and transactions to minimize state income taxes. Many factors, sometimes leading to conflicting results in, or tax being imposed by, multiple states, must be taken into account. During this teleconference, we’ll discuss the following:
- How a trust is or may become subject to a state’s income tax
- Constitutional challenges to a state’s taxation of a trust
- Changing a trust’s residency to avoid state income tax
- Determining the source of income for state income tax purposes
- Trusts that are subject to state income tax in more than one state
