IN SB0426 | 2019 | Regular Session

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 14 2019 - 25% progression, died in committee
Action: 2019-01-14 - First reading: referred to Committee on Judiciary
Pending: Senate Judiciary Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Trusts. Provides that an "excluded trust" is not a resident trust and is not required to file an adjusted gross income tax return. Defines "excluded trust" as a trust that satisfies all of the following conditions: (1) The trust is an irrevocable trust consisting of property transferred to the trust by a person who is not a resident of Indiana at the time of the transfer. (2) None of the trustees of the trust are: (A) Indiana residents; or (B) partners or corporations domiciled in Indiana. (3) The entire corpus of the trust is located outside Indiana. (4) The trust

Tracking Information

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Title

Trusts. Provides that an "excluded trust" is not a resident trust and is not required to file an adjusted gross income tax return. Defines "excluded trust" as a trust that satisfies all of the following conditions: (1) The trust is an irrevocable trust consisting of property transferred to the trust by a person who is not a resident of Indiana at the time of the transfer. (2) None of the trustees of the trust are: (A) Indiana residents; or (B) partners or corporations domiciled in Indiana. (3) The entire corpus of the trust is located outside Indiana. (4) The trust

Sponsors


History

DateChamberAction
2019-01-14SenateFirst reading: referred to Committee on Judiciary
2019-01-14SenateAuthored by Senator Head

Indiana State Sources


Bill Comments

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