California Moves to Crack Down on Out-of-State Trusts

California Moves to Crack Down on Out-of-State Trusts

Executive Summary California Governor Newsom strives to amend the Personal Income Tax laws to prevent wealthy taxpayers from utilizing Incomplete Gift Non-Grantor trusts.   California residents use this by transferring assets into trusts held by nonresident...
Executive Summary California Governor Newsom

Executive Summary California Governor Newsom

Executive Summary California Governor Newsom strives to amend the Personal Income Tax laws to prevent wealthy taxpayers from utilizing Incomplete Gift Non-Grantor trusts.   California residents use this by transferring assets into trusts held by nonresident...