In Re the Appraisal, Under the Transfer Tax Act, of the Property of Palmer
New York Court of Appeals
Appeal from an order of the Appellate Division of the Supreme Court in the first judicial department, entered June 13, 1905, which affirmed ati order of the New York County Surrogate’s Court assessing a tax upon the estate of Potter Palmer, deceased. The facts, so far as material, are stated in the opinion. The corporation itself is not taxable upon the percentage of its capital invested without the state of New York. (People ex rel.
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Appeal from an order of the Appellate Division of the Supreme Court in the first judicial department, entered June 13, 1905, which affirmed ati order of the New York County Surrogate’s Court assessing a tax upon the estate of Potter Palmer, deceased. The facts, so far as material, are stated in the opinion. The corporation itself is not taxable upon the percentage of its capital invested without the state of New York. (People ex rel. N. Y. C. & H. R. R. R. Co. v. Knight, 173 N. Y. 255.) The nonresident shareholder should be taxed, if at all, only upon that proportion which represents the…
1Opinion of the CourtGray, J.
Potter Palmer, a resident of the state of Illinois, died in 1902 and a portion of his estate consisted in 4,855 shares of the capital stock of the New York Central and Hudson River Railroad Company, a corporation of this state. This proceeding to appraise the value of that stock, under the Transfer Tax Law of the state, for the imposition of a tax, resulted in the fixing of a tax upon the life estate of his widow, only. Though some other questions were raised below, on both sides, this appeal brings up no other than the question of any liability to be taxed here at all and, if that be…
2Cases cited3 opinions
- In Re the Appraisal for Taxation of the Property of BronsonNew York Court of Appeals · 1896
- People Ex Rel. United States Aluminium Printing Plate Co. v. KnightNew York Court of Appeals · 1903
- Peo. Ex Rel. N.Y.C., Etc., R.R. Co. v. . KnightNew York Court of Appeals · 1903
3Cited by13 opinions
- In Re Estates of HarknessSupreme Court of Oklahoma · 1921
- In Re the Appraisal, Under the Transfer Tax Act, of the Estate of CooleyNew York Court of Appeals · 1906
- McDougald v. LilienthalCalifornia Supreme Court · 1917
- State v. First National BankSupreme Judicial Court of Maine · 1931
- Gardiner v. CarterSupreme Court of New Hampshire · 1908
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