Avoiding Tax Consequences During Oil & Gas Restructurings
It’s not enough for the founder of a closely held business to have successfully established the business. The business has to grow, not only to increase profits, but also to make it more competitive and to diversify its...more
Most of you know by now that I grew up in the Panama Canal Zone which no longer exists as of 1999. In that respect, the transition left me as a man without a country. My father (of blessed memory) when referring to kids...more
Welcome to the fifth edition of our Private Client Bulletin, bringing you the latest private client and trust news and insights from Bermuda, the Cayman Islands, BVI and Asia. In this issue, we have several notable...more
The North Carolina Business Court held North Carolina’s taxation of a trust unconstitutional in Kaestner v. North Carolina Department of Revenue. N.C. Gen. Stat. § 105-160.2 imposes a tax on the undistributed income of a...more
The Kimberly Rice Kaestner 1992 Trust (the “Trust”) originated from the Joseph Lee Rice, III Family 1992 Trust (the “JLR Trust”) created in 1992. The JLR Trust was created in New York when its initial trustee and settlor were...more