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in few cases impossible of discernment. Approved forms for use in the various proceedings under the act are also given.

This much, if nothing more, may be said of the book : it is thoroughly up to date.

H. N. G. TROY, N. Y., June 14, 1897.

THE LAW OF

TAXABLE TRANSFERS

THE TAX LAW.

Ch. 908, Laws 1896, as amended by Ch. 284, Laws 1897.

ARTICLE X.

TAXABLE TRANSFERS.

Section 220. Taxable transfers.

221. Exceptions and limitations.
222. Lien of tax and payment thereof.
223. Discount, interest and penalty.
224. Collection of tax by executors, administrators and trustees.
225. Refund of tax erroneously paid.
226. Deferred payments.
227. Taxes upon devises and bequests in lieu of commissions.
228. Liability of certain corporations to tax.
229. Jurisdiction of the surrogate.
230. Appointment of appraisers.
231. Proceedings by appraisers.
232. Determination by surrogate.
233. Surrogate's assistants in New York city and Erie county.
234. Surrogate's assistant in Kings county.

235. Proceedings for the collection of taxes.
236. Receipt from the county treasurer and comptroller.
237. Fees of county treasurer and comptroller.
238. Books and forms to be furnished by the state comptroller.
239. Reports of surrogate and county clerk.
240. Reports of county treasurers and comptrollers * of the city

of New York.
241. Application of taxes.
242. Definitions.

Section 220. Taxable transfers.-A tax shall be and is hereby imposed upon the transfer of any property, real or personal, of the value of five hundred dollars or over, or of any interest therein or income therefrom, in trust or otherwise, to persons or corporations not exempt by law from taxation on real or personal property, in the following cases :

1. When the transfer is by will or by the intestate laws of this state from any person dying seized or possessed of the property while a resident of the state.

2. When the transfer is by will or intestate law, of property within the state, and the decedent a nonresident of the state, at the time of his death.

3. When the transfer is of property made by a resident or by a nonresident when such nonresident's property is within this state, by deed, grant, bargain, sale or gift made in contemplation of the death of the gran

* So in the original.

tor, vendor or donor, or intended to take effect in possession or enjoyment at or after such death. 4. (Such tax shall be imposed) When any

such

person or corporation becomes beneficially entitled, in possession or expectancy, to any property or the income thereof by any such transfer, whether made before or after the passage of this act.

5. 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 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 ; and whenever any person or corporation 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 transfer taxable under the provisions of this act shall be deemed to take place to the extent of such omissions 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 such omission or failure.

6. The tax imposed thereby shall be at the rate of

five per centum upon the clear market value of such property, except as otherwise prescribed in the next section.

Revised and re-enacted from Laws 1892, ch. 399, § 1. Amended by Laws 1897, ch. 284, § 2.

The various acts; their application to each other and to

property in general. The Act is constitutional. (Matter of McPherson, 104 N. Y. 306.)

The particular law of taxable transfers in force at the time of the testator's death is the one which governs in the determination and fixing of the tax. (Matter of Milne, 76 Hun 328 ; Matter of Moore, 90 Hun 162 ; Matter of Sterling, 9 Misc. 224; Matter of Roosevelt, 143 N. Y. 120.)

The original Act did not take effect until June 30, 1885, the 20th day after its final passage. (Matter of Howe, 112 N. Y. 100, affirming 48 Hun 235, overruling Matter of Chardavoyne, 5 Dem. 466.)

The successive Transfer and Collateral Inheritance Tax Laws are a continuation one of the other. (Matter of Prime, 136 N. Y. 347; Matter of Embury, 20 Misc. 75.)

The amendment of 1887 was not retroactive. (Matter of Miller, 110 N. Y. 216; Matter of Brooks, 6 Dem. 165; Matter of Warrimer, 6 Dem. 211; Matter of Ryan, 18 St. Rep. 992; Matter of Cager, 111 N. Y. 343; (Matter of Kemey, 56 Hun 117; Matter of Wolfe, 15 Supp. 539 ; Matter of Hendricks, 18 St. Rep. 939.)

The Act of 1885 was not repealed in 1887. Taxes accrued under the former were therefore collectible after the passage of the latter. (Matter of Arnett, 49 Hun 599.)

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