Action Needed by March 31, 2014 to Avoid Proposed Changes to New York Estate Taxes and Trust Income TaxesOn March 3, 2014 by Schnader
If Governor Cuomo’s released budget proposals are enacted, New Yorkers and non-residents with property located in New York may be facing new taxes this April Fools’ Day. The proposals impact the New York estate tax and the New York income taxation of certain trusts. Due to the proposals, individuals and trustees of certain trusts should consider taking action between now and March 31.
Please click here to read the full Alert.