Legal Opinion
In re the Estate of Cushing
New York Surrogate's Court
Decided April 15, 1903PublishedCited by 3 opinions
Appeal from an order fixing and assessing the transfer tax.
1Opinion of the Court
Fitzgerald, S.
The property sought to be subjected to the transfer tax consists of 100 shares of stock of the National Bank •of Commerce of the City of New York. The appellants claim that the assessment and taxation of this stock were erroneous for the reason that the decedent was a nonresident and the stock certificate was without the State.
In legal contemplation the property of the shareholder is where the corporation exists. It consists of his right to share in the net produce, and, eventually, in the net residuum of the corporate assets resulting from liquidation (Matter of Bronson, 150 N.…
2Cases cited4 opinions
- In Re the Appraisal for Taxation of the Property of BronsonNew York Court of Appeals · 1896
- Jermain v. Lake Shore & Michigan Southern Railway Co.New York Court of Appeals · 1883
- Cooke v. . State National Bank of BostonNew York Court of Appeals · 1873
- People Ex Rel. Savings Bank of New London v. ColemanNew York Court of Appeals · 1892
3Cited by3 opinions
- In Re Estates of HarknessSupreme Court of Oklahoma · 1921
- State ex rel. Graff v. Probate CourtSupreme Court of Minnesota · 1915
- In re the Estate of McKimNew York Surrogate's Court · 1939