Guaranty Trust Co. v. Commissioner
United States Board of Tax Appeals
1. The decedent herein died in August, 1921. The Revenue Act of 1921 was approved on November 23, 1921, and the estate-tax provisions thereof became effective on that day.
Read the full summary
1. The decedent herein died in August, 1921. The Revenue Act of 1921 was approved on November 23, 1921, and the estate-tax provisions thereof became effective on that day. Held that the estate tax imposed by the Revenue Act of 1918 accrued on the death of the decedent, and that that Act remains in force for the assessment and collection of such tax. 2. The present worth, or commuted value at the date of the decedent's death, of the refund annuity contracts involved herein, held to constitute a part of her gross estate subject to the estate tax under the Revenue Act of 1918.
1Opinion of the Court
GUARANTY TRUST CO. OF NEW YORK, EXECUTOR UNDER THE LAST WILL AND TESTAMENT OF ROXY M. SMITH, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Guaranty Trust Co. v. Commissioner
Docket No. 16038.
United States Board of Tax Appeals
16 B.T.A. 314; 1929 BTA LEXIS 2609;
April 30, 1929, Promulgated
1. The decedent herein died in August, 1921. The Revenue Act of 1921 was approved on November 23, 1921, and the estate-tax provisions thereof became effective on that day. Held that the estate tax imposed by the Revenue Act of 1918 accrued on the death of the decedent, and that that Act remains in…
2Cases cited19 opinions
- Knowlton v. MooreSupreme Court of the United States · 1900
- Reinecke v. Northern Trust Co.Supreme Court of the United States · 1929
- New York Trust Co. v. EisnerSupreme Court of the United States · 1921
- Chase National Bank v. United StatesSupreme Court of the United States · 1929
- United States v. RobbinsSupreme Court of the United States · 1926
14 more not listed; retrieve them via the Exa API.