In Re the Estate of Harding

In Matter of Lagergren (276 N. Y. 184) we held that the tax imposed by section 249-p of the Tax Law (Cons. Lawá, ch. 60) upon the estates of nonresident decedents was constitutionally valid. That case did not present the question whether such a tax is payable where the deductions allowed by section 249-s exceed the value of the tangible property in this State. This case presents that question of construction.

“It is true that the statute does not say that the deductions allowed by section 249-s are limited by the formula prescribed by section 249-p or that only such portion thereof shall be…