BECTON, Judge.
North Carolina Secretary of Revenue Helen A. Powers appeals from a trial court judgment ordering an intangibles tax refund to NCNB National Bank of North Carolina as trustee under the trust agreement of Mrs. Louise S. Foley. We reverse the judgment of the trial court.
The only issue on appeal is whether a trust administered by a North Carolina trustee, with both resident and nonresident beneficiaries, is entirely exempt from taxation on intangible...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.