In Re Walton's Estate

The issues involved in this case are three questions about the interpretation of the following section of our inheritance tax code, Sec. 80-12-2, U.C.A. 1943, as amended by Chapter 113, L. of U. 1947, p. 405.

This Section reads:

"A tax equal to the sum of the following percentages of the market value of the net estate shall be imposed upon the transfer of the net estate of every decedent, whether a resident or nonresident of this state:

"Three per cent of the amount by which the net estate exceeds $10,000 and not to exceed $25,000, except where property not exceeding in value the sum of $40,000…