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Entries tagged “irrevocable trusts”

Avoiding California State Income Tax Through Irrevocable Trusts

insights Avoiding California State Income Tax Through Irrevocable Trusts Scott Ross · December 11, 2013

EXECUTIVE SUMMARY: With the maximum California state income tax rate at 13.3% for both ordinary income and capital gain, strategies to defer or eliminate California state income tax have greater importance. One strategy to consider is the creation of an irrevocable children’s trust in a state with no state income tax. If the trust is…

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