Berry v. Kavanagh

HAMILTON, Circuit Judge.

The question presented is whether or not deeds executed to a reinsurer by a statutory receiver of a reserve life insurance company in liquidation are subject to a transfer tax under Sections 3480 and 3482 of the Internal Revenue Code. The trial court decided in the affirmative.

Section 3480 of the Internal Revenue Code, 26 U.S.C.A. Int.Rev.Code, § 3480, provides in substance that a tax shall be levied and collected in respect of the several bonds and other documents men*575tioned and described in Section 3482, 26 U.S.C.A. Int.Rev. Code, § 3482. The latter section provides…