Webcast

All in Due Process: North Carolina Dep’t of Revenue v. Kimberley Rice Kaestner 1992 Family Trust

Streams live on Monday, November 18, 2019 at 01:30pm EST

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Course Information

Time 60 Minutes
Difficulty Intermediate

Course Description

Earlier this year, the Supreme Court issued a unanimous opinion in the North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust, holding that a trust beneficiary’s residence alone is not sufficient for a state to tax the trust’s undistributed income. Prior to the decision, some speculated that the Court’s decision could have far-reaching Due Process implications. However, the Court’s decision purported to be limited to the specific facts at issue – raising the question as to how (or if) Kaestner altered the Due Process landscape. 


This course, presented by Reed Smith state tax attorneys Michael Lurie and Megan Miller, reviews the precedent that set the stage for the SCOTUS’ Kaestner decision before exploring the implications of the decision for state tax and Due Process purposes. Finally, the course will evaluate the risks and opportunities the Kaestner decision presents for taxpayers.


Learning Objectives:

  1. Perform a detailed analysis of the Kaestner decision, particularly the precedent underlying the Court’s unanimous decision and the concurring opinion
  2. Explore the implications of Kaestner in the realm of trust tax, as well as in the context of Due Process generally
  3. Discuss how the decision will affect taxpayers prospectively, and consider available planning opportunities

Credit Information

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Faculty

Michael I. Lurie

Reed Smith

Michael has been a member of Reed Smith’s State Tax Group since 2013. He currently focuses his practice on Pennsylvania, Virginia, and New Jersey taxes, and unclaimed property. He represents clients in state tax return position evaluation, audit defense, administrative appeals, and litigation.



Megan Q. Miller

Reed Smith

Megan is an associate in the state tax group.  Megan specializes in multistate tax litigation matters, with a focus on Pennsylvania and North Carolina.  Prior to joining Reed Smith, Megan worked as a Tax Consultant in PwC’s State and Local Tax Group in Philadelphia, where she worked on tax planning, controversy, and transactional matters for public, private, and non-profit companies. Megan also has significant experience with tax return preparation and compliance in both state income tax and indirect tax.