The Transfer Tax Law of the State of New York: Being Sections 220 to 245 ... - Google Books

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PAR. 241. Executors can appeal although will charges tax upon

residuary legatees

When executor not obliged to testify...

Appraisal of bonds and stocks of New York corporations

distinction between ..

244. Bonds and stocks of foreign corporations and taxability

of United States bonds between 1892 and 1898....... 227

245. Both registered and coupon bonds of foreign corporations

are taxable if here......

Money deposited in bank...

247. The mere right to a legacy or a residuary estate is not

presently taxable

248. Legacy payable to a nonresident who died before receiving

it, when taxable......

249. Seat or membership in stock exchange.

250. Debts owing by a resident to a nonresident, constitute

property within the meaning of the statute.......... 239

251. Notes inventoried at par must be treated as valid obli-

gations, although some were six years overdue....... 243

252. Money deposited with trust company where company

issue certificate of deposit for same which is held by

nonresident decedent at his domicile....

253. Money deposited with a trust company.

Promissory notes, payable outside this State, but kept

here by nonresident decedent, are taxable......

255. Appraisal of stocks of domestic corporations owned by

Stocks of corporations incorporated in this State and one

or more other States, when owned by a nonresident are

appraised proportionately

257. Id.; a deduction of special ocean terminals of the Fitch-

burg railroad in Massachusetts held proper..... 250

A nonresident decedent's interest in a bond and mortgage

on New York real estate, held by a nonresident trustee,

is not taxable, although the bond and mortgage belonged

to a resident decedent's estate......

261. Id.; when proceeds of policy becomes property.

262. Distinction between property in this State passing by ex-

ercise of appointment, and property of decedent, trans-

ferred by the same will......

263. Property in New Jersey transferred under power of ap-

pointment by will of a resident decedent is taxable.... 255

PAR. 264. Notes and bonds secured by real estate without this State,

are taxable if located here.....

265. Certificates of New York corporations issued for stock

of a New Jersey corporation in liquidation deposited

with it, are not taxable......

266. Bonds owned by foreign corporations not taxable as prop-

erty of a deceased stockholder.....

A contract for delivery of stock of a New York corpora-

tion is not "property within this State"......

If transaction shows the relation of resident debtor, in-

stead of agent, the amount due the nonresident's estate

269. Federal bonds within this State prior to 1892 not taxable. 260

270. Payment of tax in another State does not relieve prop-

erty here from taxation......

271. Money in savings banks or held by decedent's attorney is

272. Personal property of nonresidents not removed until after

273. Legacy to a nonresident beneficiary is taxable...

274. Money transitorily here not taxable......

275. Money deposited by a creditor to pay debt due nonresi-

276. When debt due nonresident decedent was held not taxable. 262

277. Loans made by a partner to his firm are taxable....... 262

278. Debt on open account due a nonresident from domestic

279. Memoranda of decisions as to bonds.

280. Id.; as to stocks......

281. Proceedings and practice..

282. Not necessary to obtain Comptroller's consent to transfer

stock of a foreign corporation....

TAXABLE TRANSFERS, § 221, TAX LAW EXCEPTIONS AND

LIMITATIONS MUTUALLY ACKNOWLEDGED RELATIONSHIP

OF PARENT AND CHILD-TAXABLE PERSONS-"SPECIFIC-
ALLY EXEMPTED."

PAR. 283. Exceptions and limitations....

285. Limitations to the one per cent. class.

284. The general subject......

PAB. 286. Limitations

to the five per cent. class....

Agreement between the heirs as to distribution of estate

does not affect the rate of taxation.....

Taxable persons

The value of the whole estate transferred to taxable per-

sons determines the liability of each transfer to taxa-

290. Where net estate is $10,000 or over, transfers to both

the one per cent. and five per cent. class are taxable... 279

291. When net estate is $500 but less than $10,000 transfers

to five per cent. class are taxable......

292. The whole estate includes real as well as personal prop-

erty without regard as to its character...

293. Adopted children

294. Recital in will respecting- not conclusive.

295. Child of an adopted child.....

296. Transfer from an adopted child to its foster parent.

297. Widow of an adopted son

one per cent. class...

Adoption under the laws of another State....

299. Not included in legacy to children in case of father's

When the word "children" is equivalent to "descend-

"Husband" of a daughter, includes "widower ".

305. Mutually acknowledged relation of a parent.....

306. The relationship can be established as between strangers

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315. Living as one family does not establish the relationship. 294

316. Stepchildren

317. Rate of tax where legatee is both stepchild and nephew.. 295

PAR. 321. Corporations specifically exempted by the Act of 1905.. 298

322. Exemption applies only to domestic religious corporations. 298

323. Rule in ascertaining meaning of statute conferring ex-

Status of corporation - how determined........

Reasonable doubt should be resolved in favor of the tax-

326. Bequest to library corporation is taxable....

McAuley Water Street Mission bequests to are taxable. 301

328. The Metropolitan Museum of Art - an educational"

329. Domestic and Foreign Missionary Society of the Protest-

ant Episcopal Church of the United States is exempt.. 302

330. Contingent remaindermen not relieved from taxation by

amendment placing them in exempt class....

331. The Western New York Society for the Protection of

Homeless and Dependent Children- the Olean Hospi-

tal and the Forman Library of Olean - held not

332. Certain associations declared exempt...

333. Reference to statutes affecting exemption prior to 1905. 305

334. Decisions affecting exemptions prior to 1905..... .... 307

335. Unreported decisions of surrogates relating to exemptions

of persons and corporations- taxable and exempt

TAXABLE TRANSFERS

ACCRUAL AND PAYMENT OF TAX, § 222,

TAX LAW-DISCOUNT AND INTEREST, § 223, TAX LAW.

The State's right to the tax is coincident with the devo-

lution of title.....

Accrual, on future and contingent estates...

341. Id.; when appointment is to be exercised over fund.... 317

342. Id.; on certain remainder interests....

343. Id.; on remainder when life tenant can use principal. 318

344. Id.; upon renounced legacy...

345. Time of accrual of tax on decedent's interest in another

When liability to taxation accrues under trust deed.... 319

When tax did not accrue until termination of life estate. 320

Payment in case of a legacy in trust for life with re-

353. Payment of tax on remainders-Act of 1887..

354. Payment of tax upon a trust estate...

355. Payment of tax at decedent's domicile.....

356. Provisions of section 222 not repealed by implication.... 323

357. When tax not payable from the estate by the words of a

358. Payment made under mistake of fact as to ownership

Payment of tax from residuary estate....

When direction to pay tax from residuary estate applies

to all gifts under the will......

361. Temporary payments to State Comptroller...

When tax on trust estate to be paid from corpus of fund. 326

363. When to be paid from income of residuary estate..... 326

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373. Delay in selling real estate no ground for remitting pen-

377. Liability to pay is an accrued right.....

378. Other decisions relating to discount and interest...... 330

379. Corresponding sections of former acts relating to dis-

count and interest.

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