Delaware. All property within the jurisdiction of this state, passing by will or the intestate laws to collaterals or strangers in blood is subject to a tax of 3 per cent. Estates of less than $500 are exempt from this tax. The tax shall be paid by the executor or administrator within 13 months from the grant of letters.

Louisiana.-An inheritance tax of 3 per cent. on direct inheritances to ascendants and descendants, and 10 per cent. to collaterals and strangers, is levied on all property not before taxed, but no tax shall be levied where the estate, directly descending or ascending, is below $10,000; and the tax is not levied on bequests for educational, religious, or charitable institutions. Any non-domiciliated person in this state, not a citizen of a state or territory of the United States, inheriting as a legatee or heir, must pay 10 per cent. tax upon the amount received, or the value of the property inherited in state, for the benefit of the charity hospital in New Orleans; provided, there exists no treaty of the United States with the country of the person's domicil prohibiting the same.

Maine.-All property within the jurisdiction of this state, and any interest therein, whether belonging to inhabitants of this state or not, which shall pass by will or by the intestate laws of this state, or by deed, grant, sale, or gift made or intended to take effect in possession or enjoyment after the death of the grantor, to any person in trust or otherwise, other than to or for the use of the father, mother, husband, wife, lineal descendant, adopted child, the lineal descendant of any adopted child, the wife or widow of a son, or the husband of the daughter of a decedent, shall be liable to a tax of 4 per cent. of its value above the sum of $500, for the use of the state. Tax is payable 30 days from the date of the decree determining the amount thereof.

Maryland.-All estates, real, personal, and mixed, money, public and private securities for money of every kind, passing from any person who may die seized and possessed thereof, being in this state, or any part of such estate or estates, money or securities or interest therein, transferred by deed, will, grant, bargain, gift, or sale to take effect after the death of the grantor, testator, or donor shall be subject to a tax of 2 per cent. on every $100 of the clear value of such estates. Property passing to the usual near relations is exempt. Estates valued at less than $500 are exempt. The orphans' court determines what proportion of said tax a party entitled to a life estate or interest for a term of years shall pay.

Massachusetts. -A tax is imposed on collateral legacies and successions, at the rate of 5 per cent. of their value; but no bequest, devise, or distributive share of an estate, unless it exceeds in value $500, shall be subject to the tax. The statute exempts property passing to or for charitable, educational, or religious societies or institutions, the

property of which is exempt by law from taxation. Two years are allowed for the payment of the tax.

Michigan.-Property passing by will or succession to collaterals or strangers in blood is subject to an inheritance tax of 5 per cent. when the value of the property transferred is $500 or over. In case of favored relatives, personal property of the value of $5,000 or more is taxed at 1 per cent.

Minnesota.-A law imposing a tax on gifts, inheritances, devises, bequests and legacies exists in this state, but the tax is uniform and graduated, as required by the constitution.

Montana.-All property descending by will or by the intestate laws to any blood relations or adopted children is taxed at the rate of $1 for every $100 worth of property received. That so received by any one not a blood relation is taxed $5 for every $100 worth of property. Estates under $7,500 are not liable for such inheritance tax.

Nebraska.-There is a tax on gifts, legacies, and inheritances in certain cases, varying from $1 to $6 per $100 of value.

New Hampshire.-A collateral inheritance tax law exempting direct heirs was held to violate the constitutional requirement of equality in taxation.

New Jersey.-Property passing by will or succession to collaterals or strangers in blood is subject to a tax at the rate of $5 for every $100 in value, but estates valued at less than $500 are exempt. Exemption exists in the case of transmission to churches, hospitals, and orphan asylums. A discount of 5 per cent. is allowed if the tax be paid within 6 months; if paid within 1 year, 6 per cent. interest is charged; if not so paid, 10 per cent. interest.

New York. Non-exempt persons or corporations must pay a tax of 5 per cent. upon a transfer of property, real or personal, or any interest therein or income therefrom, of the value of $500 or over in the following cases: In the case of a transfer by will or intestacy from one dying seized or possessed, while a resident of the state; upon similar transfers of property, within the state, of a decedent who was a non-resident when he died; upon a transfer by a resident or non-resident of property within the state, made by deed, grant, bargain, sale, or gift and in contemplation of, or intended to take effect after, the death of the grantor, or donor; a person or corporation beneficially entitled, in possession or expectancy, to property or to its income, under a transfer; the exercise of a power of appointment is deemed a taxable transfer and the tax cannot be avoided by an omission to exercise such a power within the time fixed by it. Exempt persons are a father, mother, husband, wife, child, brother, sister, wife, or widow of a son or the husband of a daughter, legally adopted child, and a child to

whom the decedent, grantor, or donor, from the time prior to the child's fifteenth birthday, and for 10 continuous years after adoption and prior to the transfer, stood in mutually acknowledged relation of a parent; also, all lawful lineal descendants. Real estate is not taxable to these exempt persons, but personal property, where that of the decedent, or donor, taken as a whole, exceeds $10,000, is taxable at 1 per cent. of its clear market value, however small may be the individual shares. Devises or bequests to the societies, corporations, and institutions now exempted by law from taxation, are exempt from this tax. A discount of 5 per cent. is allowed if paid within 6 months from accrual; if not paid within 18 months, 10 per cent. interest is charged, unless the delay be unavoidable, when it is 6 per cent.

North Carolina.-All personal property passing by will or by the intestate laws from one who dies possessed of the same, while a resident of this state, is subject to a tax graduated according to the degree of consanguinity of the person inheriting the property.

Ohio.-All the property within the jurisdiction of this state, and any interest therein, whether belonging to inhabitants of this state or not, which shall pass by will, or by deed, grant, sale, or gift, made or intended to take effect in possession or enjoyment after the death of the grantor, to any person in trust or otherwise, other than to and for the use of the father, mother, husband, wife, brother, sister, niece, nephew, lineal descendant, adopted child, or the lineal descendant of any adopted child, the wife or widow of a son, or the husband of a daughter of the decedent, shall be liable to a tax of 5 per cent. of its value above the sum of $200, 75 per cent. of such tax to be for the use of the state, and 25 per cent. for the use of the county, wherein the same is collected. Such taxes shall become due and payable immediately upon the death of the decedent, and remain a lien on said property until paid.

Oregon.-A tax of 1 per cent. is imposed on the appraised value of gifts, legacies, and inheritances; provided, that any estate which may be valued at a less sum than $10,000 shall not be subject to any such tax, and the tax is to be levied on the excess of $5,000 received by any person. When such inheritance, legacy, gift, or other interest shall pass to an uncle, aunt, niece, nephew, or any lineal descendant of the same, the tax shall be at the rate of 2 per cent. upon the appraised value thereof received by each person on the excess of $2,000 so received by each person. In all other cases, the tax shall be 3 per cent. on the appraised value on amounts over $500, and not exceeding $10,000; 4 per cent. on amounts over $10,000, and not exceeding $20,000; 5 per cent. on all amounts over $20,000 and not exceeding $50,000; and 6 per cent. on all amounts over $50,000. Every such tax is a lien on the property embraced in any inheritance, legacy, devise, bequest, or gift until paid.

Pennsylvania.-All estates situated within this state, whether the persons dying seized thereof be domiciled within or out of the state, and all such estates situated in another state, territory, or country, when the persons dying seized thereof shall have their domicil within this commonwealth, passing by will or under the intestate laws of this state, or any part of such estates, or interest therein, transferred by deed, grant, bargain, or sale, made or intended to take effect in possession or enjoyment after the death of the grantor or bargainor to any persons, or to bodies corporate or politic in trust or otherwise, other than to and for the use of father, mother, husband, wife, children, and lineal descendants born in lawful wedlock, or the wife or widow of the son of the person dying seized or possessed thereof, are subject to a tax of $5 on every $100 of the clear value of such estate. No estate which may be valued at a less sum than $250 is subject to this tax. Devices or bequests to executors in lieu of commission, when such devices or bequests exceed the fair compensation for said services, are subject to this tax. In case of device, descent, or bequest to collaterals to take effect after the preceding life estate in the same property, said tax is not payable until such persons come into actual possession of the said property. If said tax be paid within 3 months from the death of the decedent, a discount of 5 per cent. is allowed; if not paid within 1 year from said death, interest is charged at 12 per cent., except in case of unavoidable delay, and then only 6 per cent.

Tennessee.-There is a tax on property passing by will or succession to collaterals, the usual near relatives being excepted, at the rate of 5 per cent.; estates valued at less than $250 are exempt.

Vermont.-Inheritance taxes do not exist in this state.

Virginia. The collateral inheritance tax law of this state formed a part of the annual "perfect" tax laws, beginning in 1844. It was continued until the session of 1855-6, when it was omitted. This omission was declared to effect its repeal. The law was reenacted in 1863, and again omitted until 1867. It was repealed in 1884, and has not been revived.

West Virginia.-There is a tax of 2 per cent. on collateral inheritances of $1,000 and over.

Wisconsin.-A tax has been imposed upon gifts and inheritances graduated from 1 to 5 per cent., according to the value of the gifts and inheritances, with an increased rate when the estates exceed $25,000 in value.

INTEREST

When a usurious rate of interest is contracted for, all the interest is forfeited, and the principal only may be recovered without costs, in Alabama, District of Columbia, Florida, Illinois, Iowa, Louisiana, Michigan, Mississippi, Missouri, Nebraska, New Jersey, New Mexico, North Carolina, North Dakota, Oklahoma, South Carolina, South Dakota, Texas, Virginia, Wisconsin, and Wyoming. The contract is void as to the excess only in Georgia, Indiana, Kansas, Kentucky, Maryland, New Hampshire, Ohio, Pennsylvania, Tennessee, Vermont, and West Virginia. In other states it is held that such a rate avoids the contract as to both principal and interest, as in Arkansas, Delaware, Indian Territory, Minnesota, New York, North Carolina, and Oregon. In Kansas, Nebraska, Ohio, and Virginia, all payments of interest above the rate allowed are to be considered as payments on the principal sum. In Tennessee, where any contract calls for a usurious rate of interest, it is void, but the party may sue upon the original consideration for the amount legally due. In Washington, in such a case, the plaintiff may recover only the principal less the amount of interest accruing thereon, at the rate contracted for; and, if such interest have been paid, judgment shall be for the principal less twice the amount of interest paid.

Generally, where there are usury laws, the interest which has been paid in excess of the rate allowed may be recovered back by the party so paying, as in Alabama, District of Columbia, Kentucky, Louisiana, Mississippi, New Jersey, New York, Pennsylvania, Vermont, and Virginia. In Alabama, District of Columbia, Kentucky, Louisiana, New York, and Virginia, such action must be begun within 1 year from such payment, and in Pennsylvania, within 6 months. In a few states, as Illinois and Washington, there can be no recovery of such excess voluntarily paid. In Florida, New Mexico, North Carolina, North Dakota, South Carolina, and Texas, the party paying any such excessive interest may recover twice the amount so paid, if the action be brought within 2 years, or 1 year in Florida, and 3 years in New Mexico. In New Hampshire and Wisconsin, such a party may recover three times the amount so paid, by action begun within 1 year. In Iowa, a usurious contract works a forfeiture of 10 per cent. per annum upon the principal, to the school fund of the county in which suit is brought; and in Missouri there is a similar forfeiture of 8 per cent. In Oregon, the principal and interest are forfeited absolutely, but judgment may be