other securities of a Wisconsin corporation or a corporation owning property in this state, without retaining a sufficient portion or amount thereof to pay any tax which may thereafter be assessed on account of such transfer, except upon order of the proper court or a certificate of the tax commission.

(Ch. 763, S. 1, 1913.)

Penalties. 7. Any corporation or holding company violating the provisions of this section shall be liable to the state for the amount of the tax; and for wilful violation of its provisions shall forfeit its charter or its license to do business within this state upon complaint of the tax commission, and conviction thereunder.

(Ch. 763, S. 1, 1913.)

In force after July 1, 1914. 8. Subsections 3 to 7, inclusive, of this section shall take effect and be in force from and after July 1, 1914; and the provisions of said sections shall apply only to transfers where death occurs after July 1, 1914.

SECTION 1087-12. 1. The

Jurisdiction; ancillary letters. county court of every county of the state having jurisdiction. to grant letters testamentary or of administration upon the estate of a decedent whose property is chargeable with any tax under the inheritance tax laws, or to appoint a trustee of such estate or any part thereof, or to give ancillary letters thereon, shall have jurisdiction to hear and determine all questions arising under the provisions of the inheritance tax laws, and to do any act in relation thereto authorized by law to be done by a county court in other matters or proceedings coming within. its jurisdiction; and if two or more county courts shall be entitled to exercise any such jurisdiction, the county court first acquiring jurisdiction hereunder, shall retain the same to the exclusion of every other county court.

Petition for ancillary letters; notice to public administrator. 2. Every petition for ancillary letters testamentary or of administration shall include the public administrator as a person to be notified, and a true and correct statement of all the decedent's property in this state with the value thereof; upon presentation thereof the county court shall cause the order for

hearing to be served personally upon the public administrator; and upon the hearing, the county court shall determine the amount of the inheritance tax which may be or become due and the decree awarding the letters may contain provisions for the payment of such tax or the giving of security therefor.

Nonresident estates; jurisdiction. 3. The county court and the judge thereof at the seat of government shall have jurisdiction to hear and determine all questions relating to the determination and adjustment of inheritance taxes in the estates of nonresident decedents in which a tax appears to be due, and in which it does not otherwise appear necessary for regular administration to be had therein. And in such estates the public administrator may be appointed as special administrator for the purposes of such adjustment. The county treasurer shall retain for the use of the county out of all such taxes paid and accounted for, only one per cent, and the balance, less the statutory expenses of collection and adjustment as fixed by the court, shall be paid into the state treasury; provided, however, that the minimum fee to which the county shall be entitled shall be three dollars in each case and that in no case shall the maximum fee exceed one hundred dollars; and the judge shall be paid two dollars for each such case.

(Ch. 627, S. 8, 1913.)

Special appraiser may be appointed. SECTION 1087-13. The county court, upon the application of any interested party, including the tax commission and public administrator, or upon its own motion, shall as often as, and whenever occasion may require, appoint a competent person as special appraiser to fix the fair market value at the time of the transfer thereof of the property of persons whose estate shall be subject to the payment of any tax imposed by sections 1087-1 to 1087-24, inclusive.

(Ch. 627, S. 8, 1913.)

Special appraiser; notice; duty; compensation. SECTION 1087-14. Every such appraiser shall forthwith give notice by mail to all persons known to have a claim or interest in the property to be appraised, including the public administrator,

and to such persons as the county court may by order direct, of the time and place when he will appraise such property. He shall, at such time and place, appraise the same at its fair market value, as herein prescribed, and for that purpose the said appraiser is authorized to issue subpoenas and to compel the attendance 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 report thereof and of such value in writing, to the said county court, together with the depositions of the witnesses examined, and such other facts in relation thereto and to the said matter as the said county court. may order or require. Every appraiser shall be paid on the certificate of the county court at the rate of three dollars per day for every day actually and necessarily employed in such appraisal, and his actual and necessary traveling expenses and the fees paid such witnesses, which fees shall be the same as those now paid to witnesses subpoenaed to attend in courts of record, by the county treasurer out of any funds he may have in his hands on account of any tax imposed under the provisions of this act.

Hearing by the court. SECTION 1087-15. 1. The report of the special appraiser shall be made in duplicate, and not less. than twenty days before the hearing thereon one of said duplicates shall be filed in the office of the county court and the other shall be mailed to the tax commission. At the time and place of hearing the administration account the county court shall examine such report, and from the report and other proofs relating to any such estate shall forthwith determine the cash value of such estate and the amount of tax to which the same is liable; or, the county court without appointing such appraiser may at the time so fixed hear evidence and determine the cash value of such estate and the amount of tax to which the same is liable.

(Ch. 627, S. 10, 1913.)

Notice of hearing; how given. 2. Notice of such hearing to determine the inheritance tax shall be given in the same manner and may be included in the notice of hearing the administration account as provided in section 3931, except where

it is clearly evident that no tax is due; and the hearing to determine such tax shall be held at the same time and place as the hearing provided in said section 3931 or at such other time as the court may order. But notice in writing of such hearing shall be mailed to the public administrator and to the tax commission not less than twenty days before such hearing upon such blanks and containing such information as the tax commission may provide.

(Ch. 627, S. 10, 1913.)

Third appraiser to represent county and state. 3. If the county court without appointing such special appraiser decide to hear evidence as to the cash value of the estate for inheritance tax purposes, the court may, at the time of the appointment of the regular appraisers of the estate, or at any time thereafter, on its own motion, or on motion of the public administrator, designate an additional third appraiser to represent the county and state, and such additional appraiser shall report the inventory and appraisal of said property with the other appraisers; or, in case of failure to agree, in a separate report, and be entitled to compensation of three dollars per day for each day necessarily employed in such appraisal, and his mileage, which fees shall be paid on the certificate of the county judge by the county treasurer out of any of the state's inheritance tax funds he may have in his possession.

(Ch. 627, S. 10, 1913.)

Commissioner of insurance to value future estates, etc. 4. The commissioner of insurance shall, on application of any county court or of the tax commission, determine the value of any such future or contingent estates, income, or interests therein, limited, contingent, dependent, or determinable upon the life or lives of the person or persons in being upon the facts contained in such special appraiser's report or upon the facts contained in the county court's finding and determination and certify the same to the county court, and his certificate shall be presumptive evidence that the method of computation adopted therein is correct.

(Ch. 627, S. 10, 1913.)

Appraisal at clear market value; annuities, how computed. 5. Whenever a transfer of property is made upon which there is, or in any contingency there may be, a tax imposed, such property shall be appraised at its clear market value immediately upon the transfer or as soon thereafter as praticable. The value of every future or limited estate, income, interest, or annuity dependent upon any life or lives in being, shall be determined by the rule, method, and standard of mortality and value employed by the commissioner of insurance in ascertaining the value of policies of life insurance and annuities for the determination of liabilities of life insurance companies, except that the rate of interest for making such computation shall be five per cent per annum.

(Ch. 627, S. 10, 1913.)

Contingent Encumbrances. 6. In estimating the value of any estate or interest in property to the beneficial enjoyment or possession whereof there are persons or corporations presently entitled thereto, no allowance shall be made in respect of any contingent incumbrance thereon, nor in respect of any contingency upon the happening of which the estate or property or some part thereof, or interest therein, might be abridged, defeated or diminished; provided, however, that in the event of such incumbrance taking effect as an actual burden upon the interest of the beneficiary, or in the event of the abridgement, defeat, or diminution of such estate or property or interest therein as aforesaid, a return shall be made to the person properly entitled thereto of a proportionate amount of such tax in respect of the amount or value of the incumbrance when taking effect or so much as will reduce the same to the amount which would have been assessed in respect to the actual duration or extent of the estate or interest enjoyed. Such return of tax shall be made in the manner provided in section 1087-8.

(Ch. 627, S. 10, 1913.)

Interest determinable by death. 7. Where any property shall, after the passage of sections 1087-1 to 1087-24, inclusive, be transferred subject to any charge, estate, or interest determinable by the death of any person or at any period ascertainable only by reference to death, the increase of benefit ac