Commonwealth v. Stewart

Windle, P. J.,

The question raised by this appeal is whether appellant’s right to receive the net income for her life from two New York trusts is taxable by this State as an equitable interest in certain of the securities comprising the corpus of the trusts, under the terms of the State Personal Property Tax Act of June 22, 1935, P. L. 414, as amended by the Act of July 17, 1936, P. L. 51. Section 3 of the act provides for a personal property tax on “the equitable interest in any such personal *669property of the classes hereinafter enumerated [no question is raised in this regard], owned, held or…