Reynolds v. Department of Revenue

Carlisle B. Roberts, Judge.

Plaintiff appealed from defendant’s Order No. IH 74-8, dated October 22, 1974, which affirmed the assessment of a deficiency of $7,992.75 plus accrued interest on plaintiff’s inheritance tax return.

The sole issue in the case is: For purposes of the Oregon inheritance tax, what is the “true cash value” of the release or forgiveness of a debt in a will?

Defendant argued that since Oregon imposes an inheritance tax, which is a tax on the right to receive property of a decedent, “true cash value” should be the value of the thing the beneficiary received and, since the…