Commonwealth v. Beisel

Opinion by

Mr. Justice Stern,

The question presented by the Commonwealth on this appeal is whether the proceeds of certain insurance policies constitute an “annuity” within the meaning of that term as used in the State Personal Property Tax Act of June 22,1935, P. L. 414, section 3, and the amendatory Act of May 18, 1937, P. L. 633.

W. Clayton Hackett, who died in 1930, was insured in two life insurance policies for the benefit of his daughter, now Ann Hackett Beisel. One was that of the Equitable Life Assurance Society for $10,000, the other that of the Massachusetts Mutual Life Insurance…