Megan Wernke Addressess Recent Supreme Court Cases at Representing Estate and Trust Beneficiaries and Fiduciaries Conference
State fiduciary income taxation has always been complex, and recent legal developments have created more uncertainty. This spring, the Supreme Court heard a constitutional challenge to North Carolina's fiduciary income taxation statute in North Carolina v. Kaestner (Docket No. 18-457). This session will begin with a high-level review of the states' various fiduciary income tax regimes. It will then examine several recent cases holding state fiduciary income tax regimes unconstitutional, as well as the anticipated Kaestner decision. Finally, it will examine trustees' obligations and options in the changing state tax environment.