Spirit of the age. [volume] (Woodstock, Vt.) 1845-1913, 1896-12-19
NUMBER 4f.
AN ACT TO TAX COLLATERAL INFER
TANCES.

NUMBER 49,
AN ACT TO TAX COLLATERAL INFER
TANCES.
1t is hereby enacted by the General As
sembiy of the State of Vermont
Sec. l All property within the jurisdic-
tlon Of this State, and any interest therein,
whether belonging to inhabitants of this
State or not, and whether tangible or in
tangible, which shall pass by will
or by the interstate laws of this State,
or by deed. grant sale, or gift made or in
tended to take effect in possession or en-
ioyment after the death Of the gran: or to
any person in trust or otherwise, other
than to or for the use of the father mo TIL
er, husband wife, l!neal descendant, adopt
ed child, the lineal descendant of any
adopted child, the wife or widow of a son,
or the husband of the daughter of a de-
cedent, OR to or for charitable, eduCa-
tcnal or religious societies or institutions,
the property Of which Is exempt by law
from taxation, shall be subject to a tax of
five per centum of its value, for the use of
the State, and all admins rators, executors
and trustees, and any such grantee under IL
conveyance made during the grantOr'S
life shall be liable for all such taxes, with
lawful interest as hereinafter provided,
until the same shall have been paid as
hereinafter directed; provided however,
visions of this act, unless the value of the
same, after payment Of debts and expenses
Of administration including money paid out
under order of the Probate Court for the
purchase Of burial stones, shall exceed the
sum of two thousand dollars.
Sec, 2. When any person bequeathS or
idevises amy property to or for the use Of
father, mother, husband, wife, lineal de-
rscendant, an adopted child, the lineal de-
iscendant of amy adopted child, the wife or
widow of a son or the husband of daugh-
ter, during life or for a term of years, and
the remainder to a collateral heir or to Il
stranger to the blood, the value Of the prior
estate shall, within three months after the
date of giving bond by the executor, ad-
ministrator or trustee, be appraised in the
manner hereinafter provided, and deduc ted
from the appraised value of such property,
and the remainder shall be subject TO Il tax
of five per centum Of its value. rf.
Sec. 3. Whenever a decedert appoints
one or more executors or trustees, and IN
lieu Of their allowance makes a bequest or
devise of property to them which would
otherwise be liable to said tax, or appoints
them his residuary legatees, and said be-
quests. devises or residuary legacies eX-
coed what would be a reasonable compen-
sution for their services, such excess shall
be liable to such tax, and the Probate
Court having Jurisdiction of their accounts,
upon the application of any one Interested
or the commissioner Of State taxes, shall
fin such compensation.
Sec. 4. All taxes imposed by this act
shall be payable 10 the treasurer of the
State by the executors, administrators,
trustees, grantees or donees at the expirA-
ton Of one year from the da te of the issu-
Ing OF letters teStamentary or of adnlinis-
tration, the appointment of trustee, or
the death of grantor or donor; provided,
that whenever lega cies or distributive
,l,o,-A ,~ntI
taxes thereon shall be payable at the time
the same are paid, and further providing
that the Probate Court may extend the
time when any taxes shall be due and pay
able whenever in the judgment of said
court the circumstances of the case may
require
Sec. 5. ANY administrator, executor or
trustee having in charge or trust any
money or other property subject to said
tax, shall deduct the tax therefrom OR
shall collect the tax thereon from the lega-
tee or person emitted to said money or
other property and he shall not deliver any
specific legacy or property subject to said
tax to any person until he has collected the
tax thereon.
Sec. G. Whenever any legacies subject to
said tax are charged upon or payable out
of any real estate, the heir or devisee, be-
fore paying the same, shall deduct said tax
therefrom and pay 1t to the executor, ad-
ra,,n,n Oh WOO ,,,or said eel $500 '',ii
q, 10 I'D. ava -, up,a,,t tharoof sh.'It ~ -
son - ~, ,ha oxanwtor od,,,iris. ~
tr,steo in the same n,annar ns tha ~, ".
,,,o,,,t y. rto ,ae,,n,, itself nomId W. pas
c. = ,rha pro,,at .o Govt 49,, 49,"
od,,ir,s,,rators eyocutors ond ,rs,s-taas ~
asm 80 as,,o.a 80 ono doaaorn5 e. 80 ~
,s,a,,t ~ s,M tox IN the IOWA ,,,,,,,, m"s
PRECAUTIONARY w. avoo,,,on. I
man,,,a, 80 soaI ,o,, oct ate fnr tha an.
~ an,st, ~ S' -'>'1 IVA '''' p"' ''ieN'
Ca u,bo ya,ue NJ suo, n,,or.r-t,, ..
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49,, - Nv oo,,r.,, uhora ,ha a,.o,to &C. ~
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reetsd sha,, os. ,nv nerson int tsad i,
10 st,ccess inn r. said nronartv ma on,i,,
~, ~ iudaa re t ha ,,i,. L., ia, ~,
- ~ astato IA IN sroh an,i,oo,so,, ~
i,,d,a taI onnoir, tbrea disin,taren.,e5 M.
go, n,hn heIn., srst su,orn shaII ,Js,,,
M onnra,se smch nronertv q 10 -,
.nr,at ,,o1',o o. w. n,,rnnSos 80 20 49,.
49,. 's,a,, ,,,oLa ra,,,,,, tharoof ~ sstS D.
- r.e.,,,-, ,,hioh ,-ot,,rn r,ay ha ,->,sa
lhv sais co,,,., IN Tho same or a . 40
or,,,,rni ,n,,en+o rv Of smch estate ID or,e,,to
"a -, to O., ,ocentad Il s,,au no t,n5i,,,
-, 49, ,arso,, h,, ,,,hon, tht. 49, a., -. h
natd ord mnon ths STATE Ana tpo S.e, -
~ . n,ra,sars sha,, hn fixe5 hv ~ i,,d %
80 ,,rniat 20 ND raid no tpe ay.c,',or as.
,,,,,ii-, ra,,on -. .r,s,,a. IT, o,sa 49, -.