Trust Tells High Court It Had No Contacts With State Warranting Taxation

Mealey's (April 9, 2019, 9:13 AM EDT) -- WASHINGTON, D.C. — A family trust that was established in New York told the U.S. Supreme Court on March 18 that it should uphold a North Carolina Supreme Court ruling finding that its assets cannot be taxed because it had no contacts with the state, explaining that the nation’s high court’s decisions in Safe Deposit & Tr. Co. v. Virginia, 280 U.S. 83 (1929), and Hanson v. Denkla, 357 U.S. 235, 246 (1958), support affirmation (North Carolina Department of Revenue v. The Kimberly Rice Kastner 1992 Family Trust, No. 18-457, U.S. Sup., 2019 U.S. S. Ct. Briefs LEXIS 1062)....