Taxation of Legacies and Successions in MassachusettsWright & Potter Printing Company, State Printers, 1911 - 134 pages |
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Common terms and phrases
administrator or trustee amount ancillary administration annuity appeal apply appraisal assessed Assistant Attorney bequest bonds Bowdoin College Carlton W cent chapter five hundred charitable purposes clause collateral inheritance tax collateral legacies Commonwealth Constitution corporation debts deceased decedent decree deed defendant determined devise domicil Edward Friebe effect in possession entitled excise excise tax executor exempt from taxation filed full court fund gift grantor HAMMOND Harry Collins held imposing a tax income interest inventory J. W. Randall jurisdiction KNOWLTON legacies and successions legatee Legislature liable Mass Massachusetts Minot mortgage MORTON nineteen hundred paid payable payment personal property petition petitioner plaintiff power of appointment privilege Probate Court property passing provisions question real estate religious societies SECTION settlor Shaw societies or institutions statute succession tax Suffolk take effect tax commissioner tax imposed tax on collateral tax under St taxable testatrix thousand dollars transfer treasurer and receiver vested Winthrop Woodbridge
Popular passages
Page 63 - State, or by deed, grant, sale or gift made or intended to take effect in possession or enjoyment after the death of the grantor...
Page 34 - And while the public charges of government, or any part thereof, shall be assessed on polls and estates, in the manner that has hitherto been practised ; in order that such assessments may be made with equality, there shall be a valuation of estates within the Commonwealth taken anew once in every ten years at the least, and as much oftener as the General Court shall order.
Page 36 - Constitution ; and to impose and levy proportional and reasonable assessments, rates, and taxes, upon all the inhabitants of, and persons resident, and estates lying, within the said Commonwealth ; and also to impose and levy reasonable duties and excises, upon any produce, goods, wares, merchandise, and commodities whatsoever, brought into, produced, manufactured, or being within the same...
Page 79 - ... to, or for, charitable, educational or religious societies or institutions, the property of which is exempt by law from taxation...
Page 108 - ... in the same manner as though the property to which such appointment relates belonged absolutely to the donee of such power, and had been bequeathed or devised by the donee by will; and whenever any person possessing such a power of appointment so derived shall omit or fail to exercise the same within the time provided therefor, in whole or in part, a disposition of property taxable under...
Page 18 - All property within the jurisdiction of the Commonwealth, corporeal or incorporeal, and any Interest therein, whether belonging to inhabitants of the Commonwealth or not, which shall pass by will, or by the laws regulating intestate succession...
Page 99 - ... to or for the use of charitable, educational or religious societies or institutions, the property of which is by law exempt from taxation...
Page 51 - ... other than to or for the use of the father, mother, husband, wife, lineal descendant, brother, sister, adopted child, the lineal descendant of any adopted child, the wife or widow of a son, or the husband of a daughter of a decedent...
Page 8 - ... a term of years, the tax shall be assessed on the actual value of the property or the interest of the beneficiary therein at the time when he becomes entitled to the same in possession or enjoyment. The value of an annuity or a life interest in any such property, or any interest therein less than an absolute interest, shall be determined by the "American Experience Tables" at four per cent compound interest.
Page 19 - ... and administrators, executors and trustees, and any such grantees under a conveyance made during the grantor's life, shall be liable for such taxes, with interest, until the same have been paid...