Federal and State Death Taxes: Reports to the Joint Committee on Internal Revenue Taxation Pursuant to Section 1203 (b) (6), Revenue Act of 1926, Vol. II--part 2 ... |
Common terms and phrases
80 per cent additional estate tax amended amount beneficiary brothers and sisters cent credit allowed cent graduated cent in addition centum child collateral heirs community property conclusive presumption consanguinity contemplation of death curtesy death duties death taxes paid decedent decedent's death deductions descendants survive descent and distribution Direct and collateral direct heirs distributive share enacted estate duty estates in excess Federal estate tax Federal Government Federal law Federal tax Form of tax gift tax gifts in excess gifts inter vivos gross estate husband inheritance and estate inheritance tax intestacy intestate June 30 latter rate applying legacy lineal descendant manner as widow net estate nonresidents NOTE-Class one-half Order of descent parent personal property portion real property realty and personalty Reichsmarks repeal residents revenue act Rights of surviving shares in excess statute strangers in blood Supreme Court surviving spouse passes taxable taxation tion total tax transfer Widow takes wife
Popular passages
Page 112 - Territory, or any personal property or interest therein, transferred by deed, grant, bargain, sale, or gift, made or intended to take effect in possession or enjoyment after the death of the grantor...
Page 165 - ... in contemplation of death or intended to take effect in possession or enjoyment after the death of the...
Page 28 - If a man die, and have no son, then ye shall cause his inheritance to pass unto his daughter.
Page 71 - The fair market value is the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts.
Page 113 - ... the right either alone or in conjunction with any person, to designate the persons who shall possess or enjoy the property or the income therefrom, except in case of a bona fide sale for an adequate and full consideration in money or money's worth.
Page 119 - The question here, then, is, not whether there has been, in the strict sense of that word, a "transfer" of the property by the death of the decedent, or a receipt of it by right of succession, but whether the death has brought into being or ripened for the survivor, property rights of such character as to make appropriate the imposition of a tax upon that result (which Congress may call a transfer tax, a death duty or anything else it sees fit), to be measured, in whole or in part, by the value of...
Page 98 - Nature gives a man no power over his earthly goods beyond the term of his life. What power he possesses to prolong his will after his death— the right of a dead hand to dispose of property — is a pure creation of the law, and the State has the right to prescribe the conditions and limitations under which that power shall be exercised.
Page 70 - ... intended to take effect in possession or enjoyment at or after his death, or of which he has at any time made a transfer, by trust or otherwise, under which he has retained for his life or for any period not ascertainable without reference to his death or for any period which does not in fact end before his death...
Page 47 - To the extent of the interest therein held jointly or as tenants in the entirety by the decedent and any other person, or deposited in banks or other institutions in their joint names and payable to either or the survivor, except such part thereof as may be shown to have originally belonged to such other person and never to have belonged to the decedent...
Page 70 - To the extent of any property passing under a general power of appointment exercised by the decedent (1) by will, or (2) by deed executed in contemplation of, or intended to take effect in possession or enjoyment at or after, his death...