Key Takeaways
- Do trusts pay tax and how are trusts taxed for income tax purposes in California?
- Applicable taxes on trust funds & the different trust funds
- Trust tax rates for 2023
- Are distributions from a trust taxable to the recipient in California?
- Allocation of taxes on a trust fund in California
In the midst of tax filing season, it’s common to start worrying and thinking about taxes on a trust fund.