First Wisconsin Trust Co. v. Department of Taxation

The following opinion was filed December 3, 1940:

Fairchild, J.

There was no attempt to revoke or modify the trust agreement at any time during 1936 which would affect the right of the state of Wisconsin to tax income received and retained by the trustee during that year. By the terms of the trust instrument the trustee was required upon the realization of profit from the sale of securities to treat that profit as principal and add it to the corpus of the trust. While the trust was revocable, it was not revoked during the time material to this action, namely, the year 1936. There were no…