In Re the Transfer Tax Upon Stock of William B. Dana Co.
New York Court of Appeals
Appeal from an order of the Appellate Division of the Supreme Court in the second judicial department, entered October 16, 1914, which affirmed an order of the Suffolk County Surrogate’s Court assessing a transfer tax. The facts, so far as material, are stated in the opinion.
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Appeal from an order of the Appellate Division of the Supreme Court in the second judicial department, entered October 16, 1914, which affirmed an order of the Suffolk County Surrogate’s Court assessing a transfer tax. The facts, so far as material, are stated in the opinion. The manifest intention of the law was to treat transfers as testamentary which either possessed the ambulatory characteristics of a will (like the trust deed herein of the 655 shares) or where the transfer was not absolute. They are in substance testamentary dispositions which take effect at death, are taxable under the…
1Opinion of the Court
Willard Bartlett, Oh. J.
On the 22d of March, 1905, William B. Dana, since deceased, transferred 655 shares of the capital stock of a corporation known as the William B. Dana Company to Jacob Seibert, Jr. At the same time he executed and delivered to Mr. Seibert an instrument in writing whereby he appointed Mr. Seibert trustee of such shares of stock, reserving to himself, however, the income, if any, which should be derived from the stock and the right' to revoke the trust and retake the stock at any time, or to appoint a new trustee. Mr. Dana also i’eserved the power to dictate how the stock…
2Cases cited1 opinion
- In Re the Transfer Tax Upon Certain Trusts Made by BostwickNew York Court of Appeals · 1899
3Cited by13 opinions
- Marble v. Treasurer & Receiver GeneralMassachusetts Supreme Judicial Court · 1923
- In Re the Transfer Tax Upon the Estate of SchmidlappNew York Court of Appeals · 1923
- In re the Estate of VorheesAppellate Division of the Supreme Court of the State of New York · 1922
- Blodgett v. Union & New Haven Trust Co.Supreme Court of Connecticut · 1922
- Pratt v. DeanMassachusetts Supreme Judicial Court · 1923
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