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Full-Text Articles in Taxation-State and Local
Taxation Of Trust Estates-Reservation Of Life Income
Taxation Of Trust Estates-Reservation Of Life Income
Michigan Law Review
Settlor executed a deed of trust, retaining a life income, but no power of revocation. Held, that the State of Connecticut could tax the transfer as a gift to take effect in possession or enjoyment at or after death without violating the federal constitution. Guaranty Trust Co. of New York v. Blodgett, (U.S. 1933) 53 Sup. Ct. 244.
Jurisdiction For The Purpose Of Imposing Inheritance Taxes, David R. Mason
Jurisdiction For The Purpose Of Imposing Inheritance Taxes, David R. Mason
Michigan Law Review
For nearly half a century so-called inheritance tax laws of the states of the United States have been predicated upon two distinct theories of jurisdiction, many states embodying both theories into their statutes. Recent decisions rendered by the Supreme Court of the United States, however, challenge the constitutionality of such a scheme and indicate the expediency of a review of the extent of state jurisdiction for the purpose of imposing such taxes.
Taxation-Jurisdiction To Tax Intangibles-Business Situs
Taxation-Jurisdiction To Tax Intangibles-Business Situs
Michigan Law Review
Decedent died domiciled in Illinois, owning the majority of stock in a South Carolina corporation, and a chose in action for a large sum owed him by the corporation, partly on open account, and partly for dividends declared but unpaid. The executors objected to the inclusion of the chose in an assessment under the South Carolina inheritance tax law, but the South Carolina court refused relief, basing jurisdiction to tax the transfer of the indebtedness, in part, on the ground that this property had acquired a business situs in South Carolina. On certiorari, this decision was reversed by the United …
Taxation-Inheritance Tax-Power Of Appointment
Taxation-Inheritance Tax-Power Of Appointment
Michigan Law Review
An inheritance tax in general is a tax on the exercise of a right. It is in the nature of an excise tax. Knowlton v. Moore, 178 U. S. 41. In recent years many states, as well as the federal government, have extended their taxing activities in this field. 4 COOLY, TAXATION, 4th ed. p. 3439. New York passed a statute in 1892 taxing the exercise of a power of appointment. The statute declared that whenever any person exercises a power of appointment, such appointment when made shall be deemed a transfer taxable as though the property belonged absolutely …
The Equitable Conversion Fiction As A Basis For Inheritance Taxation
The Equitable Conversion Fiction As A Basis For Inheritance Taxation
Michigan Law Review
No one would dispute the jurisdiction of the state where land is situated to impose an inheritance tax upon its transfer at the death of the owner. Callahan v. Woodbridge, 171 Mass. 595, 51 N. E. 176; Matter of Majot, 199 N. Y. 29, 92 N. E. 402, Chamberlain's Estate, 257 Pa. 113,101 Atl. 314. Equally clear is the converse proposition: that no other state except the state where the land lies can impose such a tax. Succession of Westfeldt, 122 La. 836, 48 So. 281; In re Rust's Estate, 213 Mich. 138, 182 N. W. …