In re the Estate of Yawkey

Foley, S.

The executors appeal from the order fixing the transfer tax on the ground that the tax provided by section 221-b of the Tax Law has been imposed on the accrued interest as well as the principal of the investment. The testator died May 5, 1919. The gross value of the investments left by him is found in the report of the appraiser to be approximately $4,200,000. This valuation includes the accrued interest on these investments to the date of death amounting to $52,422.29. The additional tax of five per cent has been computed on this item of interest.

The material part of section 221-b…