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]
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
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
Date | Chamber | Action |
---|---|---|
2019-01-14 | Senate | First reading: referred to Committee on Judiciary |
2019-01-14 | Senate | Authored by Senator Head |
Indiana State Sources
Type | Source |
---|---|
Summary | https://iga.in.gov/legislative/2019/bills/senate/426/details |
Text | http://iga.in.gov/static-documents/a/b/3/e/ab3ed629/SB0426.01.INTR.pdf |