Hamilton National Bank of Knoxville v. Benson

The question involved in this lawsuit is whether or not an Executor of an estate is required under the statute, sec. 30-1621, T.C.A., to pay on a large block of stock of the intestate the full value of said stock as quoted on the stock exchange on the day of death. In other words, does the Executor have to pay under what *328is known as the “unit” rule in the assessment of these shares of stock, that is, pay the value of these eleven odd thousand shares on the basis that the tax must be determined by multiplying these eleven odd thousand shares by the market price per share indicated by the…