The Miscellaneous Reports Volume 37
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The Miscellaneous Reports Volume 37

The Miscellaneous Reports Volume 37


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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1902 Excerpt: ...shall be paid to such issue equally, share and share alike, per stirpes and not per capita." Mercy M. Plum is properly taxable on an estate for life although by her own act she may marry and thus cut down her life estate to one for a term of years only. Section 230 of the Tax Law provides as follows: "Where an estate for life or for years can bo divested by the act or omission of the legatee or devisee it shall be taxed as if there were no possibility of such divesting." The present value of the life estate of Mercy M. Plum in the balance of said personal estate should be ascertained and taxed upon the basis of the corrected valuation as stipulated by the parties to this appeal. The question as to whether or not the remainder of the personal estate is now taxable, and if so against whom, is made a difficult one owing to the frequent changes in the statutes and to the decisions which have from time to time construed them. Anna L. Plum died June 16, 1899, and therefore chapter 76, Laws of 1899, amending the Tax Law was in force at the time of her death. The Comptroller claims that-by the provisions of that act the remainder of the personal estate should be taxed against the nephews and nieces of the testatrix, children in being of the said Sarah W. Gilbert, at the rate of 5 per cent., in accordance with the language of that act, now part of section 230 of the Tax Law, which reads as follows: "Where property is transferred in trust or otherwise, and the rights, interests or estates of the transferees are dependent upon contingencies or conditions whereby they may be wholly or in part created, defeated, extended or abridged, a tax shall be imposed on said transfer at the highest rate which, on the happening of any of said contingencies or co...


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Product Details
  • ISBN-13: 9781154330502
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Edition: Abridged edition
  • Language: English
  • Returnable: N
  • Weight: 680 gr
  • ISBN-10: 1154330508
  • Publisher Date: 01 May 2012
  • Binding: Paperback
  • Height: 246 mm
  • No of Pages: 382
  • Spine Width: 20 mm
  • Width: 189 mm


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