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 8
... exceed- 207 Mass . 368 . ing On Excess Excess Excess On Excess above above above $ 10,000 , $ 25,000 , $ 50,000 , not not not exceed- exceed- On above On Excess $ 10,000 . ing $ 250,000 , above not $ 1,000,000 . exceed - exceeding ing ...
... exceed- 207 Mass . 368 . ing On Excess Excess Excess On Excess above above above $ 10,000 , $ 25,000 , $ 50,000 , not not not exceed- exceed- On above On Excess $ 10,000 . ing $ 250,000 , above not $ 1,000,000 . exceed - exceeding ing ...
Page 26
... exceed the sum of ten thousand dollars , " are not well founded . LATHROP , J. , dissenting . The provisions of § 2 of St. 1891 , c . 425 , entitled " An Act imposing a tax on collateral legacies and successions , " to the effect that ...
... exceed the sum of ten thousand dollars , " are not well founded . LATHROP , J. , dissenting . The provisions of § 2 of St. 1891 , c . 425 , entitled " An Act imposing a tax on collateral legacies and successions , " to the effect that ...
Page 27
... exceed the sum of ten thousand dollars , mean that only the debts , and not the expenses of ad- ministration , are to be deducted ; but for the purpose of determining on what amount the tax is to be computed , expenses of administration ...
... exceed the sum of ten thousand dollars , mean that only the debts , and not the expenses of ad- ministration , are to be deducted ; but for the purpose of determining on what amount the tax is to be computed , expenses of administration ...
Page 47
... exceed $ 40,000 for the year . Upon the same bill for instructions it appeared that the amount of unproductive real estate was small compared with the total amount of the fund , and that the income of the fund met all the requirements ...
... exceed $ 40,000 for the year . Upon the same bill for instructions it appeared that the amount of unproductive real estate was small compared with the total amount of the fund , and that the income of the fund met all the requirements ...
Page 48
... exceed $ 2,000,000 . The annual income was more than $ 100,000 a year . A purchase of annuities out of the trust fund sufficient to meet the requirements of the will would leave in the fund more than $ 800,000 , the income of which up ...
... exceed $ 2,000,000 . The annual income was more than $ 100,000 a year . A purchase of annuities out of the trust fund sufficient to meet the requirements of the will would leave in the fund more than $ 800,000 , the income of which up ...
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.