Inheritance and Estate TaxesCallaghan and Company, 1926 - 1054 pages |
From inside the book
Results 1-5 of 100
Page 47
... assessed against the other persons to whom the property is awarded , generally the residuary legatee . But the Pennsylvania rule is different , possibly because the Pennsylvania tax is on the right to transmit and not on the right to ...
... assessed against the other persons to whom the property is awarded , generally the residuary legatee . But the Pennsylvania rule is different , possibly because the Pennsylvania tax is on the right to transmit and not on the right to ...
Page 51
... assessed against the original legatees . If they had simply renounced the legacies the property would have passed under the residuary clause ( §62 ) and the transfer would have been taxable at the lower rate applicable to the widow.16 ...
... assessed against the original legatees . If they had simply renounced the legacies the property would have passed under the residuary clause ( §62 ) and the transfer would have been taxable at the lower rate applicable to the widow.16 ...
Page 52
... assessed hinge on the manner is which the agreement was to be carried out . In the case before us there can be no doubt , if the will had been admitted to probate without a record of the agreement , the tax would have been assessed in ...
... assessed hinge on the manner is which the agreement was to be carried out . In the case before us there can be no doubt , if the will had been admitted to probate without a record of the agreement , the tax would have been assessed in ...
Page 56
... assessed until the vesting of the remainder , yet in such cases the statutes and the rates in effect at the time of the death of the testator govern the taxation , although the procedure is controlled by the law in force at the date of ...
... assessed until the vesting of the remainder , yet in such cases the statutes and the rates in effect at the time of the death of the testator govern the taxation , although the procedure is controlled by the law in force at the date of ...
Page 61
... assessed thereon , and be wholly liquidated , if such be the legislative plan.3 The true test by which the tax is to be measured is the value of the interest or estate transferred at the time of the transfer thereof . The interest of ...
... assessed thereon , and be wholly liquidated , if such be the legislative plan.3 The true test by which the tax is to be measured is the value of the interest or estate transferred at the time of the transfer thereof . The interest of ...
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Common terms and phrases
administration allowed Amount in Bracket annuity apply appraisal Article assessed assets Beneficiary Value bequest bonds Chapter charitable child Class of Beneficiary contemplation of death corporation court curtesy death duties debts decedent's death deductions determined domicile donor dower estate tax executor expenses gift gross estate held husband Illinois imposed included income inheritance tax interest intestate joint tenants jurisdiction Legacy Amount Legacy Number Class legatee levied Massachusetts Matter N. Y. App N. Y. Misc N. Y. Supp net estate nonresident decedent North Carolina paid payable payment Pennsylvania personal property personal representative personalty purposes Rate Tax real estate real property realty received Regulations 68 Relationship to Decedent remainderman resident residuary rule share sister situs South Dakota specifically bequeathed statute tax is computed tax the transfer taxable transfer taxation thereof tion transfer is taxable transfer tax trust United Value of Legacy widow wife Wisconsin York Regulations
Popular passages
Page 556 - Whenever any person or corporation shall exercise a power of appointment derived from any disposition of property made either before or after the passage of this Act, such appointment, when made, shall be deemed a transfer taxable under the provisions of this Act, in the same manner as though the property to which such appointment relates belonged absolutely to the donee of such power, and has been bequeathed or devised by such donee by will...
Page 823 - To the extent of any interest therein of which the decedent has at any time made a transfer, by trust or otherwise, where the enjoyment thereof was subject at the date of his death to any change through the exercise of a power, either by the decedent alone or in conjunction with any person, to alter, amend? or revoke...
Page 823 - ... in contemplation of or intended to take effect in possession or enjoyment at or after his death, except in case of a bona fide sale for a fair consideration in money or money's worth.
Page 545 - If any section, subsection, sentence, clause or phrase of this act is for any reason held to be unconstitutional, such decision shall not affect the validity of the remaining portions of this act. The legislature hereby declares that it would have passed this act, and each section, subsection, sentence, clause, and phrase thereof, irrespective of the fact that any one or more other sections, subsections, sentences, clauses, or phrases be declared unconstitutional.
Page 737 - Any transfer of a material part of his property in the nature of a final disposition or distribution thereof, made by the decedent within two years prior to his death without such a consideration, shall, unless shown to the contrary, be deemed to have been made in contemplation of death within the meaning of this title...
Page 825 - The sheriff to whom any such warrant shall be directed shall proceed upon the same in all respects with like effect and in the same manner as prescribed by law in respect to executions issued against property upon judgments of...
Page 264 - In imposing taxes for state purposes they are not doing what congress is empowered to do. Congress is not empowered to tax for those purposes which are within the exclusive province of the states.
Page 625 - When property is transferred in trust or otherwise, and the rights, interest 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 upon said transfer at the highest rate which, on the happening of any of the said contingencies or conditions, would be possible under the provisions of this article, and such tax so imposed shall be due and payable forthwith by the executors or...
Page 824 - ... a fraternal society, order, or association operating under the lodge system, but only if such contributions or gifts are to be used by such trustee or trustees, or by such fraternal society, order, or association, exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals...
Page 536 - Every executor, administrator or trustee shall have full power to sell so much of the property of the decedent as will enable him to pay such tax in the same manner as he might be entitled by law to do for the payment of the debts of the testator or intestate.