Pritzker Trust Dodges Illinois State Income Tax
By statute, the residence of the grantor at the time the trust became irrevocable subjects the trust to Illinois income tax. That was enough for the Sangamon County circuit court that had ruled in favor of the Revenue Department. In the appeal, the trustee argued that Illinois taxing the trust was unconstitutional since the trust no longer had any connection to Illinois.
How To Ranch Like Tom Cruise On A Lower Budget
The argument about whether the residences were integral to the operation of the ranch was all about what the residents were doing since apparently nobody was keeping a horse or a tractor in their garage. The discussion reminded me a lot of the type of discussion you will see in passive activity and hobby loss cases. Storm Mountain’s argument was, in part, that since the agricultural operation was not leased out, but rather run by the Homeowners Association, each of the homeowners, by virtue of membership and dues-paying was participating in agricultural operations.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.