In 1992, the United States Supreme Court ruled in Quill Corp. v. North Dakota that states cannot impose sales taxes on retailers unless the retailers have physical presence in the state. But times have changed, and the advent of online retailing recently caused two state legislatures to challenge this decision.
Under current estate tax rules, married couples can now transfer nearly $11 million during life or at death before federal estate or gift taxes become due. For most families, then, these “transfer” taxes are not a significant concern. However, for those who might be affected by these taxes, new proposed regulations threaten to curb what […]