Cannon Estate Planning Teleconference: State Income Tax Issues with Trusts

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

Hosted at The Trust Company of Tennessee’s Knoxville office. Light snacks will be provided beginning at 12:30 p.m.

About Cannon Estate Planning Teleconferences

Cannon Estate Planning Teleconference Series is a teleconference on Wealth Management and Estate Planning topics.

The industry’s foremost leading authorities provide commentary and debate over the use of complex financial and legal strategies to serve their high-net-worth clients best. Professionals can connect and collaborate on relevant issues without the added expense of travel and accommodations while earning continuing education and learning credits to preserve their valuable business credentials.