Taxation of Legacies and Successions in Massachusetts with Citations of Supreme Court Decisions ...Wright & Potter Printing Company, State printers, 1921 - 58 pages |
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Page 12
... 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 ; but when an annuity or a life ...
... 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 ; but when an annuity or a life ...
Page 13
... annuity or was in pos- session of the life estate . SPECIAL PROVISIONS FOR PAYMENT OF TAXES ON FUTURE INTERESTS . entitled to in advance , 1902 , 473 . 1903 , 251 ; 276 . 1907 , 563 , § 7 . 1909 , 490 , 1904 , 421 . SECTION 14. Any ...
... annuity or was in pos- session of the life estate . SPECIAL PROVISIONS FOR PAYMENT OF TAXES ON FUTURE INTERESTS . entitled to in advance , 1902 , 473 . 1903 , 251 ; 276 . 1907 , 563 , § 7 . 1909 , 490 , 1904 , 421 . SECTION 14. Any ...
Page 23
... annuity of a given amount for life , multiply the annuity by the figure in column 2 opposite the age at the nearest birthday of the person receiving the annuity . Example : A , who is 25 years , 7 months old at death of B , is given by ...
... annuity of a given amount for life , multiply the annuity by the figure in column 2 opposite the age at the nearest birthday of the person receiving the annuity . Example : A , who is 25 years , 7 months old at death of B , is given by ...
Page 26
... annuity that the tax is to be paid out of the annuity as soon as the annuity becomes payable , and at the time when payments on account of it are made . The exemption under St. 1891 , c . 425 , § 1 , of " charitable , educational , or ...
... annuity that the tax is to be paid out of the annuity as soon as the annuity becomes payable , and at the time when payments on account of it are made . The exemption under St. 1891 , c . 425 , § 1 , of " charitable , educational , or ...
Page 30
... annuity of $ 8,546.80 during her life . The treasurer of the Commonwealth objected that the amount that was to be paid to her was not an annuity or life estate that could be appraised by the combined experience tables , as required by ...
... annuity of $ 8,546.80 during her life . The treasurer of the Commonwealth objected that the amount that was to be paid to her was not an annuity or life estate that could be appraised by the combined experience tables , as required by ...
Common terms and phrases
administrator or trustee adopted child amended by St amount annuity apply appraisal assessed Attorney beneficial interest beneficiary bequest bill for instructions bona fide purchase bonds Bowdoin College cent No tax certificate chapter collateral legacies Commonwealth death deceased decedent deed of trust determined domiciled effect in possession entitled estates of persons excess on excess executor exempt exercise expiration future interest grant or gift grantor or donor held husband imposed by St imposing a tax income information in equity interests therein passing intestate intestate succession jurisdiction laws legacies and successions legacy tax legatee liable lien Mass monwealth nephew non-resident paid payment personal property possession or enjoyment power of appointment principal probate court property or interest property passing resident SECTION settlor SHAW statute take effect tax commissioner tax is payable tax No tax tax on collateral tax under St testator's thereof transfer Treasurer and Receiver trust fund widow wife World Peace Foundation
Popular passages
Page 33 - ... made or Intended to take effect in possession or enjoyment after the death of the grantor...
Page 8 - ... 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 such donee by will...
Page 8 - 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...
Page 9 - ... shall omit or fail to exercise the same within the time provided therefor, in whole or in part, a transfer taxable under the provisions of this act, shall be deemed to take place to the extent of such omission or failure, in the same manner as though the persons or corporations thereby becoming entitled to the possession or enjoyment of the property to which such power related had succeeded thereto by a will of the donee of the power failing to exercise such power, taking effect at the time of...
Page 35 - ... tax, to take effect in possession, or come into actual enjoyment after the expiration of one or more life estates, or a...
Page 31 - ... probate court having jurisdiction of the settlement of the estate of the decedent, which court shall, subject to appeal as in other cases, hear and determine all questions relative to said tax, and the state treasurer shall represent the state in any such proceeding.
Page 5 - Lineal ancestor, except father or mother; lineal descendant, except child or grandchild; lineal descendant of adopted child; lineal ancestor of adoptive parent; wife or widow of a son; husband of a daughter, 1% 2% 4% 5% 6% 7% 8% 9% CLASS C.
Page 41 - ... the common law and are in accord in respect of the character and incidents of tenancy by the entirety.' In legal contemplation the tenants constitute a unit; neither can dispose of any part of the estate without the consent of the other; and the whole continues in the survivor. In Maryland, such a tenancy may exist in personal property as well as in real estate. These decisions establish a state rule of property, by which, of course, this court is bound. Warburton v. White, 176 US 484, 496.
Page 35 - Information filed the same day by the attorney general, at the relation of the treasurer and receiver general, seeking to have the trustee ordered to pay the tax.
Page 21 - If, upon the decease of a person leaving an estate liable to a tax under the provisions of this act, a will disposing of such estate is not offered for probate, or an application for administration made within four months after such decease, the probate court, upon application by the tax commissioner, shall appoint an administrator, if it then appears that there is no will in existence.