The First Amendment provides that Congress make no law respecting an establishment of religion or prohibiting its free exercise. It protects freedom of speech, the press, assembly, and the right to petition the Government for a redress of grievances. The Second Amendment gives citizens the right to bear arms. The Third Amendment prohibits the government from quartering troops in private homes, a major grievance during the American Revolution. The Fourth Amendment protects citizens from unreasonable search and seizure.
Background. Under the current rules, testamentary trusts â trusts created by will â are taxed at the same graduated rates that are applicable to individuals as compared to an inter vivos trust â a trust established during oneâs lifetime â which is generally taxed at the highest marginal tax rate for individuals. GRE may continue to be subject to tax at graduated rates for up to 36 months, provided the estate meets the following conditions: 1  it arose as a consequence of an individualâs death; 2  no more than 36 months have passed from the date of death; 3  the estate is a testamentary trust;
As a result, make sure that you check the box for federal income tax purposes for any business trust wholly owned by a REIT if you want to claim this exemption. CNI. CNI is imposed at a rate of 9.99% on corporations and entities that check the box to be treated as corporations for federal income tax purposes.CNI is not imposed on a REIT or QRS formed as a business trust (including a Maryland REIT).mportantly, LLCs and business trusts, even those treated as disregarded entities or partnerships for federal income tax purposes, are subject to CSFT. However, CSFT is not imposed on (1) a REIT or QRS formed as a business trust (including a Maryland REIT) or (2) a state law partnership.