Victory in Multi-Million Dollar NY Tax Audit of Exempt Resident Trust

Hodgson Russ successfully represented the Trustee of an exempt-resident trust in a multi-million dollar New York tax audit. At issue was the timing of reporting of gains. Hodgson Russ took the matter through audit and to a BCMS conference, ultimately obtaining a favorable decision for the Trustee that the gain was not subject to New York income tax.