Morison v. Department of Revenue

The facts herein are stipulated. The case involves the taxability, under our inheritance tax act (CL 1948, § 205.201 et seq. [Stat Ann and Stat Ann 1947 Cum Supp § 7.561 el seq.)), of the deceased’s share of a profit-sharing plan. In brief, the deceased, Clare L. Brackett (hereinafter for brevity referred to as the deceased) was the president of the National Machine Products Company of Detroit (hereinafter referred to as the company). In December of 1941 this company established a profit-sharing' savings and retirement plan for its employees. Under the terms of the plan the company deposited…