Smith v. Commissioner
United States Board of Tax Appeals
Commissions, payable to a trustee of a trust fund, which has been administered by the executor, are not deductible under section 403(a)(1) of the Revenue Act of 1918, as administrative expenses allowable under the laws of New York.
1Opinion of the Court
*912OPINION.
Milliken :
Section 401 of the Bevenue Act of 1918, imposes a tax “ upon the transfer of the net estate of every decedent,” dying after the passage of the Act. Section 402 sets forth what is included in the gross estate. Section 403 provides the method of ascertaining the net estate by allowing certain deductions from the gross estate. Subdivision (1) of paragraph (a) of that section, grants the following deduction: “ Such amounts for * * * administration expenses * * * as are allowed by the laws of the jurisdiction * * * under which the estate is being administered * *
Under the…
2Cases cited8 opinions
- New York Trust Co. v. EisnerSupreme Court of the United States · 1921
- Keith v. JohnsonSupreme Court of the United States · 1926
- Olcott v. . BaldwinNew York Court of Appeals · 1907
- In re the Transfer Tax upon the Estate of VanneckAppellate Division of the Supreme Court of the State of New York · 1916
- In re the Appraisal Under the Transfer Tax Acts of the Property of ShieldsNew York Surrogate's Court · 1910
3 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Estate of Thomas W. Streeter, Deceased v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1974
- Smith v. CommissionerUnited States Board of Tax Appeals · 1927