State v. Marine National Exchange Bank

The sole question before the court is the taxability of the pension payments to be made to Mrs. King. The state contends that a tax is imposed by sec. 72.01 (3) (b), Stats.:

“When a transfer is of property, made without an adequate and full consideration in money or money’s worth ... by . . . gift, intended to take effect in possession or enjoyment at or after the death of the . . . donor, . . .”

It is our conclusion that this case is controlled by the Estate of Sweet (1955), 270 Wis. 256, 70 N. W. (2d) 645. We there held that no tax was assessable against a widow’s pension provided for by the…