No. They're disregarded for tax purposes.
Most of the time living trusts are useless. They are rarely used properly, so most of the decedent's crap has to go through probate anyway. They're popular with wealthy people so every upper-middle-class schmuck with a leased Mercedes thinks they need one too, and lawyers needing to pay their rent market them to get the $1,000 fee.
You cannot set up a living trust yourself – trust me. Only a trust & estates lawyer can do that and some of them cannot even do it properly.
your only reason to set up a trust is to protect your assets for your beneficiaries, there is no tax advantage now
If the living trust earns interest, you will pay taxes on it.