101 A. 248 (N.J.L. 1917), Maxwell v. Edwards

Citation:101 A. 248, 90 N.J.L. 707
Opinion Judge:PER CURIAM.
Party Name:LAWRENCE MAXWELL ET AL., EXECUTORS, ETC., OF LAST WILL OF JAMES McDONALD, DECEASED, APPELLANTS, v. EDWARD I. EDWARDS, STATE COMPTROLLER OF THE TREASURY OF NEW JERSEY, ET AL., RESPONDENTS
Attorney:For the appellants, Coult & Smith (Edward De Witt, of New York). For the respondents, John W. Wescott, attorney-general, and John R. Hardin.
Judge Panel:For affirmance -- THE CHANCELLOR, GARRISON, TRENCHARD, BERGEN, BLACK, WHITE, HEPPENHEIMER, WILLIAMS, TAYLOR, GARDNER, JJ. 10. For reversal -- None.
Case Date:June 18, 1917
Court:Supreme Court of New Jersey
 
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Page 248

101 A. 248 (N.J.L. 1917)

90 N.J.L. 707

LAWRENCE MAXWELL ET AL., EXECUTORS, ETC., OF LAST WILL OF JAMES McDONALD, DECEASED, APPELLANTS,

v.

EDWARD I. EDWARDS, STATE COMPTROLLER OF THE TREASURY OF NEW JERSEY, ET AL., RESPONDENTS

Court of Errors and Appeals of New Jersey

June 18, 1917

Argued March 13, 1917.

On appeal from the Supreme Court, whose opinion is reported in 89 N.J.L. 446.

For the appellants, Coult & Smith (Edward De Witt, of New York).

For the respondents, John W. Wescott, attorney-general, and John R. Hardin.

OPINION

PER CURIAM.

The constitutionality of the act of April 9th, 1914 (Pamph. L., p. 267), amending the Inheritance Tax law of April 20th, 1909 (Pamph. L., p. 325), has been sustained by the Supreme Court in an opinion by Mr. Justice Minturn. Maxwell v. Edwards, 89 N.J.L. 446.

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, &c., 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 five per cent. class and the interest [90 N.J.L. 708] 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 one per cent., one and one-half per cent. and two 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 five per cent., making the amount of tax due $4,111.42. The...

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