• Important Changes Proposed to New York Estate Tax and New York Income Taxation of Trusts, Grantors and Beneficiaries
  • March 7, 2014
  • Law Firm: Loeb Loeb LLP - Los Angeles Office
  • Important legislation has been introduced by New York Governor Andrew Cuomo that, if passed, would substantially change the New York estate tax regime and would also significantly change the income tax rules regarding certain trusts and their grantors and beneficiaries. As discussed below, some of the proposed changes may make it advisable to take prompt action—before the changes become effective.