Maxwell v. Edwards

• Decision Date: 18 June 1917
• Docket Number: No. 108-51A.,108-51A.
• Citation: 101 A. 248,90 N.J.Law 707
• Parties: MAXWELL et al. v. EDWARDS, State Comptroller, et al.
• Court: New Jersey Supreme Court

101 A. 248

90 N.J.Law 707

MAXWELL et al.

v. EDWARDS, State Comptroller, et al.

No. 108-51A.

Court of Errors and Appeals of New Jersey.

June 18, 1917.

Appeal from Supreme Court.

Certiorari by Lawrence Maxwell and others against Edward I. Edwards, Comptroller of the Treasury of the State of New Jersey, and others, to review an assessment of a transfer tax. Prom a judgment by the Supreme Court (99 Atl. 138), affirming the tax, prosecutor appeals. Affirmed.

Coult & Smith, of Newark, and Edward De Witt, of New York City, for appellants. John W. Wescott, Atty. Gen., and John R. Hardin, of Newark, for appellees.

PER CURIAM. The constitutionality of the act of April 9, 1914 (P. L. 1914, p. 267), amending the inheritance tax law of April 20, 1909 (P. L. 1909, p. 325), has been sustained by the Supreme Court in an opinion by Mr. Justice Minturn. Maxwell v. Edwards, 89 N. J. Law, 446, 99 Atl. 138. Nothing need be added thereto on the constitutionality of the act, but it is important that the facts illustrating the method by which the transfer inheritance tax was levied in this case may be amplified somewhat; thus, the return to the writ of certiorari shows the appraised value of the entire estate, wherever situate, was ascertained and fixed at $3,969,333.25. From this amount was deducted $328,914.04, being the appraised value of the New Jersey stocks specifically bequeathed to the widow and stranger, leaving $3,640,419.21, from which figure was deducted $270,813.17, being the amount allowed for debts, administration expenses, etc., leaving a net estate of $3,369,606.04; from this net estate was deducted legacies bequeathed under the will, together with legacies to beneficiaries in the 5 per cent. class and the interest of the widow in the estate, other than New Jersey stocks specifically bequeathed, amounting to $651,474.25, leaving a residuary estate of $2,718,131.79.

The appraised value of the New Jersey stocks specifically bequeathed to the widow was ascertained to be $246,685.53, and the rate of taxation assessed thereon is 1 per cent., 1 1/2 per cent. and 2 per cent., making the tax due this state on this specific bequest to the widow $3,933.71. The appraised value of the New Jersey stock specifically bequeathed to the stranger was ascertained at $82,228.51, and the rate of taxation on the value of this bequest is 5 per cent. making the amount of tax due $4,111.42. The appraised value of the New Jersey stocks owned by the decedent at the time of...