In re the Transfer Tax On the Estate of Perkins

Cohalan, S.

The proposed order submitted by the executors, on notice to the state tax commission, assessing the transfer tax on the report of the appraiser, fixes presently a tax on remainders subject to an absolute power of appointment given by decedent to his two children. This tax is based on the assumption that the powers will not be exercised; that the children will die simultaneously and without issue, and that the next of kin of both children will be one person, the transfer to whom is taxable at the five per cent rate.

The proposed order contains a further provision that if on the date…