AMENDMENT-LAWS 1892. 17 When the beneficial in paid as hereinafter directed. terest to any personal property or income therefrom shall pass to or for the use of any father, mother, husband, wife, child, brother, sister, wife or widow of a son, or the husband of a daughter, or any child or children adopted as such in conformity with the laws of the state of New York, or to any person to whom the deceased, for not less than ten years prior to death, stood in the mutually acknowledged relation of a parent, or to any lineal descendant born in lawful wedlock; in every such case the rate of such tax shall be one dollar on every hundred dollars of the clear market value of such property, and at and after the same rate for every less amount, provided that an estate which may be valued at a less sum than ten thousand dollars shall not be subject to any such duty or tax; but if such beneficial interest is to or in land or real estate in this state, such interest shall be exempt from taxation under this section. In all other cases, the rate shall be five dollars on each and every hundred dollars of the clear market value of all property, and at and after the same rate for any less amount, provided that an estate which may be valued at a less sum than five hundred dollars shall not be subject to any such duty or tax, provided further that any property heretofore devised or bequeathed or which may hereafter be devised or bequeathed to any person who is a bishop or to any religious corporation, shall be exempted from and not be subject to the provisions of this act. § 2. This act shall take effect immediately. 18 AMENDMENT-LAWS 1892. CHAP. 143. AN ACT to amend chapter four hundred and eightythree of the laws of eighteen hundred and eightyfive, entitled "An act to tax gifts, legacies and collateral inheritances in certain cases, as amended by chapter seven hundred and thirteen of the laws of eighteen hundred and eighty-seven, as amended by chapter three hundred and seven of the laws of eighteen hundred and eighty-nine, as amended by chapter one hundred and sixty-seven of the laws of eighteen hundred and ninety two." APPROVED by the Governor May 3, 1892. Passed, three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows: SECTION 1. Section thirteen of chapter four hundred and eighty-three of the laws of eighteen hundred and eighty-five, entitled "An act to tax gifts, legacies and collateral inheritances in certain cases, as amended by chapter seven hundred and thirteen of the laws of eighteen hundred and eighty-seven, as amended by chapter three hundred and seven of the laws of eighteen hundred and eighty-nine, as amended by chapter one hundred and sixty-seven of the laws of eighteen hundred and ninety-two, is hereby amended so as to read as follows: § 13. Surrogate to appoint appraiser. In order to fix the value of property of persons whose estates shall be subject to the payment of said tax, the surrogate, on the application of any interested party, or upon his own motion, shall appoint some competent person as appraiser as often as, and whenever occasion may require, whose duty it shall be forthwith to give such notice by mail to all persons known to have or claim an interest in such property, and to such persons as the surrogate may by order direct, of the time and place he will appraise such property; and at such time and place, to appraise the same at its fair market value, and for that purpose the said appraiser is authorized by leave of the surrogate to issue subpoenas for and to compel the at AMENDMENT-LAWS 1892. 19 tendance of witnesses before him, and to take the evidence of such witnesses under oath concerning such property and the value thereof, and he shall make a report thereof, and of such value, in writing to said surrogate, together with the depositions of the witnesses examined and such other facts in relation thereto and to said matter as said surrogate may by order require, to be filed in the office of such surrogate; and from this report the said surrogate shall forthwith assess and fix the then cash value of all estates, annuities and life estates or terms of years growing out of said estate, and the tax to which the same is liable, and shall immediately give notice thereof by mail to all parties known to be interested therein, and the value of every future or contingent or limited estate, income or interest shall, for the purposes of this act, be determined by the rule, method and standards of mortality and of value, which are employed by the superintendent of the insurance department in ascertaining the value of policies of life insurance and annuities, for the determination of the liabilities of life insurance companies, save that the rate of interest to be assessed in computing the present value of all future interests and contingencies shall be five per centum per annum; and the superintendent of the insurance department shall, on the appplication of any surrogate, determine the value of such future or contingent or limited estate, income or interest, upon the facts contained in such report, and certify the same to the surrogate, and his certificate shall be conclusive evidence that the method of computation adopted therein is correct. Any person or persons dissatisfied with the appraisement or assessment may appeal therefrom to the surrogate of the proper county within sixty days after the making and filing of such assessment, on paying or giving security approved by the surrogate to pay all costs, together with whatever tax shall be fixed by said court. The said appraiser shall be paid by the county treasurer or comptroller out of any funds he may have in his hands on account of said tax, on the certificate of the surrogate, at the rate of three dollars per day for every day actually and necessarily employed in said appraisement, together with his actual and necessary traveling expenses including the fees paid such witnesses. The comptroller of the city and county of New York shall retain out of any funds he may have in his hands on account of said tax, a sum of money sufficient to provide the surrogate in the city and county of New York, with an assistant appointed by said surrogate, who shall be known as the succession tax assistant, whose salary shall be four thousand dollars a year; a succession tax clerk whose salary shall be two thousand four hundred dollars a year; an assistant clerk whose salary shall be one thousand eight hundred dollars a year, and a recording clerk whose salary shall be thirteen hundred dollars a year, said salaries to be payable monthly; and a further sum of money, not exceeding five hundred dollars a year, to be used to pay the expenses of the said surrogate necessarily incurred in the assessment and collection of said tax, said amounts to be paid upon the certificates and requisitions of said surrogate respectively. The county treasurer of the county of Kings shall retain out of any funds he may have in his hands on account of said tax a sum of money sufficient to provide the surrogate of the county of Kings with a clerk, appointed by said surrogate, who shall be known as the inheritance and legacy tax clerk," and whose salary shall be two thousand four hundred dollars a year, payable monthly, said amount to be paid upon the certificate of said surrogate. 2. This act shall take effect immediately. APPENDIX. I.-NEW YORK STATUTES. LAWS N. Y. 1887, CHAP. 713. AN ACT to amend chapter four hundred and eighty-three of the laws of eighteen hundred and eighty-five, entitled "An act to tax gifts, legacies and collateral inheritances in certain cases." PASSED June 25, 1887; three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows: SECTION 1. Chapter four hundred and eighty-three of the laws of eighteen hundred and eighty-five, entitled "An act to tax gifts, legacies and collateral inheritances in certain cases," is hereby amended so as to read as follows: § 1. After the passage of this act all property which shall pass by will or by the intestate laws of this State, from any person who may die seized or possessed of the same while a resident of this State, or if such decedent was not a resident of this State at the time of death, which property, or any part thereof, shall be within this State, or any interest therein, or income therefrom which shall be transferred by deed, grant, sale or gift, made or intended to take effect in possession or enjoyment after the death of the grantor or bargainor, to any person or persons, or to any body politic or corporate, in trust or otherwise, or by reason whereof any person or body politic or corporate shall become beneficially entitled in possession or expectancy, to any property or to the income thereof, other than to or for the use of his or her father, mother, husband, wife, child, brother, sister, the wife or widow of State tax upon ty, &c., passed certain proper tate laws. by will or intes. |