Three States Most At Risk for Trust Taxes, Survey Shows

Trusts in Virginia, Montana and North Dakota have the highest chance at being taxed as a resident, according a Bloomberg Tax & Accounting survey.

The survey, released Nov. 26, comes after action this year on a pair of high-profile cases involving how states impose income taxes on trusts.

The U.S. Supreme Court in June issued its ruling in North Carolina v. Kaestner Family Trust, which placed a narrow limit on the power of states to tax trust income, leaving potential wiggle room when dealing with different sets of facts.

Just a week later the nation’s highest court declined to ...