 In cases under paragraph (1), (2), or (3) of subdivision (a) the tax shall be imposed upon the net income of the estate or trust and shall be paid by the fiduciary, except that in determining the net income of the estate of any deceased person during...  Laws of the State of New York - Page 1733by New York (State) - 1920Full view - About this book
 | United States. Department of Justice - 1922 - 710 pages
...— that is, an exemption of $1,000. It also provides that in determining the net income of an estate during the period of administration or settlement there may be deducted the amount of 3113' income properly paid or credited to any legatee, heir, or beneficiary. The so-called estate tax... | |
 | 1925 - 1112 pages
...subdivision (a) shall be imposed upon the net income of the estate or trust and be paid by the fiduciary, and that, in determining the net income of the estate...properly paid or credited to any legatee, heir, or (d) provides that: "There shall be included in computing the net income of each beneficiary his distributive... | |
 | 1928 - 1130 pages
..."(c) In cases under paragraph (1), (2) or (3) of subdivision (a) the tax shall be imposed upon the net income of the estate or trust and shall be paid by the fiduciary." A "fiduciary" is defined in section 200 of both the Acts of Internal Revenue of 1918 and 1921 (Сотр.... | |
 | Robert Hiester Montgomery - 1920 - 1304 pages
...fiduciary." Payments to beneficiaries during period of administration not taxable to fiduciary. — .... in determining the net income of the estate of any...the period of administration or settlement there may "Fiduciaries arc classed as individuals, so that payments of the tax must be made as provided in the... | |
 | New York (State). Comptroller's Office - 1919 - 24 pages
...and the tax must be paid directly by the fiduciary. In such a case, there is allowed in determining " net income " of the estate of any deceased person during the period of administration or settlement, the amount of income properly paid or credited to any legatee, heir or other beneficiary, which income... | |
 | Guaranty Trust Company of New York - 1919 - 664 pages
...(c) In cases under paragraph (1), (2), or (3) of subdivision (a) the tax shall be imposed upon the net income of the estate or trust and shall be paid...beneficiary. In such cases the estate or trust shall, for the purpose of the normal tax, be allowed the same credits as are allowed to single persons under... | |
 | Henry Montefiore Powell - 1919 - 708 pages
...under paragraphs a, b, and c of subdivision one, of this section, the tax shall be imposed upon the net income of the estate or trust and shall be paid...beneficiary. In such cases, the estate or trust shall he allowed the same exemptions as are allowed to single persons under section three hundred and sixty-two,... | |
 | National City Company, United States - 1919 - 104 pages
...under paragraph (1), (2), or (3) of subdivision (a) (par. 93-96) the tax shall be imposed upon the net income of the estate or trust and shall be paid...beneficiary. In such cases the estate or trust shall, for the purpose of the normal tax, be allowed the same credits as are allowed to single persons under... | |
 | Harris, Forbes & co., New York - 1919 - 164 pages
...subdivision (a) the tax shall be imposed upon the net income of the estate or trust and shall be paid by""the fiduciary, except that in determining the net income...beneficiary. In such cases the estate or trust shall, for the purpose of the normal tax, be allowed the same credits as are allowed to single persons under... | |
 | New York (State) - 1919 - 520 pages
...and the tax must be paid directly by the fiduciary. In such a case, there is allowed in determining "net income" of the estate of any deceased person during the period of administration or settlement, the amount of income properly paid or credited to any legatee, heir or other beneficiary, which income... | |
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