Agnew v. Bugbee

A transfer inheritance tax of $1,407.28 was assessed by the comptroller (under P.L. 1909 ch. 228, as amended by P.L. 1922 ch. 174), in respect of a legacy given by the will of David Paton, deceased, to the trustees of Princeton University. Appellants contend that the transfer by the legacy in question is exempt from taxation by virtue of the amending statute, P.L.1925 ch. 102, which exempts from such tax testamentary transfers "to or for the use of any institution solely educational for whose benefit there may have been or may hereafter be appropriations made by the legislature of this state."