Legal Question in Tax Law in Utah

Re: Trusts

Trusts are unique entities and can assume several forms for tax purposes. Some trusts stand alone, and are taxed similar to a corporate entity; some trusts are "not for profit" and are not taxed; other trusts are set up as pass through entities, with the income or loss from the trust passed on to one or more individuals or corporate entities. The language creating the trust should determine how the tax issue should be handled. Ths tax issue should also reflect the needs and desires of the creator(s) of the trust.