Kendra Haley Merchant

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With the 2023 Louisiana Legislative Session under way, it is a good time to highlight the lobbying election available to qualifying public charities exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code.

Nonprofit organizations that qualify for federal income tax exemption as public charities under section 501(c)(3) of the Internal Revenue…

New IRS guidance confirms no step up in basis for grantor trust assets that are not included in the decedent’s estate.

Rev. Rul. 2023-02 clarifies that the basis adjustment under section 1014 of the Internal Revenue Code does not apply to “step up” the basis for assets in grantor trusts treated as owned by the…