Taxation of Legacies and Successions in Massachusetts
Taxation of Legacies and Successions in Massachusetts

Author: Massachusetts Tax Commissioner's Dept

Publisher: Forgotten Books

Published: 2018-02-19

Total Pages: 140

ISBN-13: 9780656952342

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Excerpt from Taxation of Legacies and Successions in Massachusetts: Issued by the Tax Commissioner November, 1911 Section 6. Except as hereinafter provided, said tax Shall be assessed upon the actual value Of the property at the time of the death Of the decedent. In every case where there Shall be a devise, descent, bequest or grant to take effect in possession or enjoyment after the expiration Of one or more life estates or a term Of years, the tax shall be assessed on the actual value Of the property or the interest Of the beneficiary therein at the time when he becomes entitled to the same in possession or enjoyment. The value of an annuity or a life interest in any such property, or any interest therein less than an absolute interest, shall be determined by the Actuaries' Combined Experience Tables at four per cent compound interest. Section 7. Any person or persons entitled to a future interest or to future interests in any property may pay the tax on account Of the same at any time before such tax would be due in accordance with the provisions hereinbefore contained, and in such cases the tax shall be assessed upon the actual value of the interest at the time of the payment Of the tax, and such value Shall be determined by the tax commissioner as hereinafter provided. In every case in which it is impossible to compute the present value of the future interest the tax commissioner may, with the approval Of the attorney-general, effect such settlement of the tax as he shall deem to be for the best interests Of the commonwealth, and payment of the sum so agreed upon Shall be a full satisfaction Of such tax. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Taxation Of Legacies And Successions
Taxation Of Legacies And Successions

Author: Massachusetts (Commonwealth) Tax Commis

Publisher: Wentworth Press

Published: 2019-04-07

Total Pages: 202

ISBN-13: 9781012325558

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