Cory v. Pierce

Opinion

SIMS, Acting. P. J.

—The State Controller has appealed from an amended order fixing inheritance tax which sustained the executors’ objections to the amended report of the inheritance tax appraiser. It deleted and reduced the clear market value of the property, subject to inheritance tax in the estate of the resident decedent, by the gross value of the remainder interest of an irrevocable trust, in which he retained a life interest, created by the decedent when a nonresident, 40 years before his death. The Controller states the issue as follows: “Are the remainder interests taxable under…