Emily Foehr

Venable LLP

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Incomplete Gift Non-Grantor Trusts Created by California Residents May Be Subject to California State Income Tax Beginning in 2023

Under California Governor Gavin Newsom's proposed 2023-2024 state budget, released on January 10, 2023, the income of an incomplete gift non-grantor trust (ING Trust) may now be subject to California income tax, effective on...more

1/27/2023 / Franchise Tax Board , Governor Newsom , Income Taxes , Nongrantor Trusts , Residency Status , State Budgets , Trusts

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Emily Foehr

Venable LLP

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Latest Posts › Franchise Tax Board

Incomplete Gift Non-Grantor Trusts Created by California Residents May Be Subject to California State Income Tax Beginning in 2023

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