According to the Pew Research Center, one-in-three American workers are millennials—making them the largest generation in the US workforce. Today, millennials range in age from 23 to 38. Compared to previous generations, millennials are more ethnically and racially diverse; they are marrying later in life if at all; they are better educated with millennial women completing their bachelor’s degree in greater numbers than men; and, they have less wealth and more debt than baby boomers did at the same age.
On June 21, 2019, the US Supreme Court unanimously ruled in North Carolina Department of Revenue v. Kaestner 1992 Family Trust, No. 18-457, 2019 WL 2552488 (U.S. June 21, 2019) that the presence of in-state beneficiaries alone does not permit a state to tax trust income that has not been distributed to the beneficiaries where the beneficiaries have (1) no right to demand the income and (2) no guarantee that they would eventually receive the income from the trust. Justice Sotomayor delivered the opinion of the Court; Justice Alito, joined by Chief Justice Roberts and Justice Gorsuch, filed a concurring opinion.