Congressional Edition Volume 7314

Congressional Edition Volume 7314

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1918 edition. Excerpt: ...expenses of the testamentary or intestate proceedings, and claims against insolvent persons. 2601--4. Sec. 1540. Additions of gifts and advances.--After the aforementioned deductions have been made, there shall be added to the resulting amount the value of all gifts or advances made by the predecessor to any of those who, after his death, shall prove to be his heirs, devisees, legatees, or donees, mortis causa. 2601--4. Sec. 1541. Rule of taxation when beneficiaries belong to different classes.--When divers persons not included in the same class or group of section one thousand five hundred and thirty-six hereof are beneficiaries, each share shall be subject to the scale of taxation which corresponds to the person taking. 2601--5. Sec. 1542. Determination of value of usufructs and annuities.--In order to determine the value of the right of usufruct, use or habitation, as well as that of annuity, there shall be taken into account the probable life of the beneficiary in accordance with the American Tropical Experience Table, calculated at eight per centum annual interest. 2601--6. Sec. 1543. Exemption of certain acquisitions and transmissions.--The following shall not be taxed: (a) The merger of the usufruct in the owner of the naked title. (b) The transmission or delivery of the inheritance or legacy by the fiduciary heir or legatee to the trustees. (c) The transmission from the first heir, legatee, or donee in favor of another beneficiary, in accordance with the desire of the predecessor. In the last two cases, if the scale of taxation appropriate to the new beneficiary is greater than that paid by the first, the former must pay the difference. 2601--7. Sec. 1544. When tax to be paid.--The tax fixed in this article shall be paid: (a) In the cases...show more

Product details

  • Paperback | 422 pages
  • 189 x 246 x 22mm | 748g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236580680
  • 9781236580689