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CHAPTER V.

TAXABLE TRANSFERS LAW.

Chap. 399.

AN ACT in relation to taxable transfers of property. Approved by the Governor April 30, 1892. Passed, three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows:

TAXABLE TRANSFERS OF PROPERTY.

SECTION 1. Taxable transfers.

2. Exceptions and limitations.

3. Lien of tax and payment thereof.

4. Discount, interest and penalty.

5. Collection of tax by executor, administrators and trustees.

6. Refund of tax erroneously paid.

7. Deferred payments.

8. Taxes upon devises and bequests in lieu of commissions.

9. Liability of certain corporations to tax.

10. Jurisdiction of the surrogate.

11. Appointment of appraisers.

12. Proceedings by appraisers.

13. Determination by surrogate.

14. Surrogate's assistants in New York city.

15. Proceedings for the collection of taxes.

16. Receipt from the county treasurer and comptroller.

17. Fees of county treasurer and comptroller.

18. Books and forms to be furnished by the state comptroller.

19. Reports of surrogate and county clerk.

20. Reports of county treasurers and comptrollers of the city of New York.

21. Application of taxes.

22. Definitions.

23. Laws repealed.

24. Saving clause.

25. Construction.

26. When to take effect.

§1. Taxable transfers.-A tax shall be and is hereby impo ed upon the transfer of any property, real or per. onal, of the value of five hundred dollars, or over, or of any interest therein or income therefrom, in trust, or otherwise, to persons or corporations not exempt by law from taxation on real or personal property in the following cases:

1. When the transfer is by will or by the intestate laws of this state from any person dying scized or possessed of the property while a resident of this state.

2. When the transfer is by will or intestate law, of property within the state, and the decedent was a non-resident of the state at the time of his death.

3. When the transfer is of property made by a resident or by a non-resident, when such non-resident's property is within this state, by deed, grant, bargain, sale or gift made in contemplation of the death of the grantor, vendor or donor, or intended to take effect, in possession or enjoyment, at or after such dea h. Such tax shall also be imposed when any such person or corporation becomes beneficially entitled, in possession or exp `ctancy, to any property or the income thereof by any such transfer, whether made before or after the passage of this act. Such tax shall be at the rate of five per cent. upon the clear market value of such property, except as c'herwise prescribed in the next section.

2. Exceptions and limitations. When the property or any beneficial interest therein passes by any such transfer to or for the use of any father, mother, husband, wife, child, brother, sister, wife or widow of a son or the husband of a daughter, or any child or children adopted as such in conformity with the laws of this state, of the decedent, grantor, donor or vendor, or to any person to whom any such decedent, grantor, donor or vendor for not less than ten years prior to such transfer stond in the mutually acknowledged relation of a parent or to any lineal descendant of such decedent, grantor, donor or vendor born in lawful wedlock, such transfer of property shall not be taxable under this act, unless it is personal property of the value of ten thousand dollars or more, in which case it shall be taxable under this act at the rate of one per centum upon the clear market value of such property. But any property heretofore or hereafter devised or bequeathed to any person who is ? bishop or to any religious corporation shall be exempted from and not subject to the provisions of this act.

§ 3. Lien of tax and payment thereof.- Every such tax shall be and remain a lien upon the property transferred until paid and the person to whom the property is so transferred, and the administrators, executors and trustees of every estate so transferred shall be personally liable for such tax until its payment. The tax shall be paid to the treasurer or comptroller of the county of the surrogate having jurisdiction as herein provided; and said treasurer or comptroller shall give, and every executor, administrator or trustee shall take, duplicate receipts from him of such payment, one of which he shall immediately send to the comptroller of the state, whose duty it shall be to charge the treasurer or comptroller so receiving the tax with the amount thereof and to seal said receipt with the seal of his office and countersign the same and return it to the executor, administrator or trustee, whereupon it shall be a proper voucher in the settlement of his accounts; but no executor, administrator or trustee shall be entitied to a final accounting of an estate in settlement of which a tax is due under the provisions of this act unless he shall produce a receipt so sealed and countersigned by the comptroller or & copy thereof certified by him, or unless a bond shall have been filed as prescribed by ection seven of this act. All taxes imposed by this act shall be due and payable at the time of the transfer, provided, however, that taxes upon the transfer of any estate, property or interest therein limited, conditioned, dependent or determinable upon the happening of any contingency or future event by reason of which the fair market value thereof can not be ascertained at the time of the transfer as herein provided shall accrue and become due and payable when the persons or corporations beneficially entitled thereto shall come into actual possession or enjoyment thereof.

§ 4. Discount, interest and penalty. If such tax is paid within six months from the accruing thereof, a discount of five per centum shall be allowed and deducted therefrom. If such tax is not paid within eighteen months from the accruing thereof, interest shall be charged and collected thereon at the rate of ten per centum per annum from the time the tax accrued; unless by reason of claim: made upon the estate necessary litigation or other anavoidabl› cause of delay, such tax can not be determined an 1 paid as herein provided, in which case interest at the rate of six per centum per annum shall be charged upon such tax

from the accrual thereof until the cause of such delay is removed, after which ten per centum shall be charged. In all cases when a bond shall be given under the provisions of section seven of this act interest shall be charged at the rate of six per cent from the accrual of the tax until the date of payment thereof.

5. Collection of tax by executors, administrators and trustees. Every executor, administrator, or trustee shall have full power to sell so much of the property of the decedent as will enable him to pay such tax in the same manner as he might be entitled by law to do for the payment of the debts of the testator or intestate. Any such administrator, executor or trustee having in charge or in trust any legacy or property for distribution subject to such tax shall deduct the tax therefrom; and within thirty days therefrom shall pay over the same to the county treasurer or comptroller, as herein provided. If such leg acy or property be not in money, he shall collect the tax thereon upon the appraised value thereof from the person entitled thereto. He shall not deliver or be compelled to deliver any specife legacy or property subject to tax under this act, to any person until he shall have collected the tax thereon. If any such legacy shall be charged upon or payable out of real property the heir or devisee shall deduct such tax therefrom and pay it to the administrator, executor or trustee, and the tax shall remain a lien or charge on such real property until paid, and the payment thereof shall be enforced by the executor, administrator or trustee in the same manner that payment of the legacy might be enforced, or by the district attorney under section fifteen of this act. If any such legacy shall be given in money to any such person for a limited period, the administrator, executor or trustee shall retain the tax upon the whole amount, but if it be not in money, he shall make application to the court having jurisdic tion of an accounting by him, to make an appointment, if the case requires it, of the sum to be paid into his hands by such legatees, and for such further order relative thereto as the case may require.

§ 6. Refund of tax erroneously paid. If any debts shall be proven against the estate of a decedent after the payment of any legacy or distributive share thereof, from which any such tax has been deducted or upon which it has been paid by the person entitled to such legacy or distributive share and such person is

required to refund the amount of such debts or any part thereof, an equitable proportion of the tax shall be repaid to him by the executor, administrator or trustee, if the tax has not been paid to the county treasurer, comptroller of the city of New York or to the state treasurer, or by such treasurer, comptroller, or state treasurer, if such tax has been paid to him. When any amount of said tax shall have been paid erroneously into the state treasury, it shall be lawful for the comptroller of this state, upon satisfactory proof presented to him of the facts, to require the amount of such erroneous or illegal payment to be refunded to the executor, administrator, trustee, person or persons who have paid any such tax in error from the treasury; or the said comptroller may by order direct and allow the treasurer of any county or the comptroller of the city of New York to refund the amount of any illegal or erroneous payment of such tax out of the funds in his hands or custody to the credit of such taxes, and credit himself with the same in his quarterly account rendered to the comptroller of this state under this act; provided, however, that all applications for such refunding of erroneous taxes shall be made within five years from the payment thereof. § 7. Deferred payment.-Any person or corporation beneficially interested in any property chargeable with a tax under this act and executors, administrators and trustees thereof, may elect within one year from the date of the transfer thereof as herein provided not to pay such tax until the person or persons beneficially interested therein shall come into the actual possession or enjoyment thereof. If it be personal property, the person or persons so electing shall give a bond to the state in penalty of three times the amount of any such tax, with such sureties as the surrogate of the proper county may approve, conditioned for the payment of such tax and interest thereon, at such time or period as the person or persons beneficially interested therein. may come into the actual possession or enjoyment of such property, which bond shall be filed in the office of the surrogate. Such bond must be executed and filed and a full return of such property upon oath made to the surrogate within one year from the date of transfer thereof as herein provided, and sucii bond must be renewed every five years.

8. Taxes upon devises and bequests in lieu of commissions. If a testator bequeaths or devises property to one or more executors or trustees in lieu of their commissions or allow

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