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Supreme Court Agrees to Hear Major Estate Case

January 15, 2019

The U.S. Supreme Court has agreed to hear a case about whether the due process clause of the Constitution prohibits a state from taxing an out-of-state trust based on the in-state residence of the beneficiary. While the question in the case, North Carolina Department of Revenue v. The Kimberley Rice Kaestner 1992 Family Trust, is relatively simple, the states are split on the issue, according to Reed Smith associates Megan Miller and Michael Lurie. Read more at Accounting Today.