Sammond v. Tax Commission

As appears from the preceding statement the case involves an inheritance tax which was computed on the market value of stock transferred by the will of the testator at the time of the testator’s death as determined by the court and without deducting the amount of the federal estate tax imposed on the same transfer of the stock. The contention of the appellants is that the tax should have been computed on the value of the property actually received by the beneficiaries, because one cannot be taxed on anything he does not receive. On this hypothesis, the appellants rest two propositions, — that…