There are numerous laws and regulatory issues to take into account when considering a state in which to form a Private Trust Company (PTC), including requirements around annual reporting, residency of personnel and capital...more
Tennessee Gov. Bill Lee approved Public Chapter No. 695 on April 11, 2024, as passed by the Tennessee General Assembly (Trust Bill). The new law became effective on July 1, 2024, and it made several important changes to...more
7/10/2024
/ Estate Planning ,
Estate Tax ,
Family Businesses ,
General Partnerships ,
Gift Tax ,
Incapacitated Persons ,
Minors ,
New Legislation ,
Partnership Agreements ,
Partnerships ,
Power of Appointment ,
Trustees ,
Trusts ,
Uniform Trust Code ,
Wealth Management
Gov. Bill Lee recently signed into law Public Chapter 950, which creates significant changes in how Tennessee's franchise tax is calculated.
Until now, the franchise tax has been calculated based on 1) a taxpayer's...more