James H. Cundiff
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James H. Cundiff (Jim) advises clients on family wealth and business planning, federal estate, gift and generation-skipping tax planning, and estate and trust administration. Jim represents entrepreneurs, corporate executives, and other business leaders and wealthy individuals on estate and tax planning matters. Read James H. Cundiff's full bio.
By James H. Cundiff and L. Timothy Halleron on Mar 31, 2014
Posted In Illinois, Income Tax
In Linn v. Department of Revenue, the Illinois Fourth District Appellate Court reviewed the state’s statutory framework for taxing trusts. Linn v. Department of Revenue, 2013 Il App (4th) 121055. On constitutional grounds, the court limited Illinois’ power to impose taxes under its “once subject to tax, forever subject to tax” regime. This case creates planning opportunities...