Spirit of the age. [volume] (Woodstock, Vt.) 1845-1913, 1904-12-31

of state taxes, one with the state treas
urer, and one in the probate court II any
having Jurisdiction of said estate w'thih
this state: In case foreign administra'
tor. executor or trustee shall BIO q party
to said agreement one copy Thereon shan
be delivered to him,
Sec. 80. The probate court shall have
power to affirm or set aside the agree
ment mentioned in the last three preced-
ing sections In all estates within Its 1ur-
isdiction; and the state treasurer may
in his discretion set aside any such agreed
statement of valuation to which Foreign
administrator, executor or trustee Is a
party IL he becomes satisfied that the
interests of the state so require.
Section 81. II the agreed statement OF
valuation hereinbefore mentioned shall
: be set aside for any cause. the value OF
, such property shall be determined as
t lhereinbefore otherwise provided.
VALUATION OF LIFE ESTATE.
Sec SO. When 1t shall become neces-
sary for the purpose of computing a tax
o imposed by this act to determine the
g value at the time such tax shall accrue
Of any interest in property arising from
u the beauest or devise Of the use or in
d come thereof for the term Of an individ-
Il ual life or lives or involving the contn-
h gency of the duration of such lie OF
II lives, it shall be determined according
al to the american Experience Table OF
s. Mortality" with interest at the rate Of
three and one-haf per cent. per annum.
III Sec. SO. In case 1t shall become neces-
airy for the purpose of computing tax
~ imposed by this act to determine the
value at the time such tax shall accrue
of any annuity or any interest In prop
~ erty arising from the bequest or devise
h. of the use or income thereof for term
A. of years or for period in which the life
duration or life contingency is not In
volved, the value shall be determined by
discount tables computed at the rate o.
three and one-half per cent. per annum.
vi Sec. 81. In making the computation
te specified in the two preceding sections
10 the probate court shall determine tn
'u- amount of such yearly income whethe
ie' for life or for term of years or tn
iu- probable average annual value of the us
ny or income of such estate for life or for
10 term of years.
oi Sec. IS. The commissioner of stat
ie taxes shall Mt the expense of the stat
"f' procure suitable tables for the purpose
reu of this act and may cause the same G
my any part thereof to be printed In CONVEX
hn- lent form with proper explanation for tn
leu use of all probate courts within tn
ave state; and such tables shall be use
in computing the value of all yearly IL
comes or life estates mentioned in tn
- act. The auditor of accounts is heret
~ authorized to draw his order upon Il
MY state treasurer to defray the expens
VI incurred under this section.
ven
Tess VALUATION OF REMAINDER.
per-
t.s Sec. Sc. When any irerson bequeaths
re. devises any, property. or gives or conve
one any property III the manner specihed
eed- section TWO OF this act 10 or 1or the
the of father, mother. husband, wife, line
or descendant, adopted child, the line
t of descendant Of an adopted child, the wi
, OF or widow of a son, or the husband Of
per- daughter, or a town or city for cemete
ct. purposes or a charitable educational
ssue religious society or institution Great
rails and existing under and by virtue of t
part laws of this state and having it's prin
: in pal office herein, during life or for a te
lem; of years, and the remainder to coll
thin eral heir or to a stranger to the blood,
" value of the prior estate shall in
manner hereinbefore provided be
"p' Quoted from the appraised value of S,
property; and the person entitled to s,
uu- remainder shall be liable to the tax
ID &c posed by the provisions Of this act; 81
tax shall become due and payable at
SdIle tiIuc tHdl Il tdN WOuiu peCoiiic
and payable, il the entire property
wit
stead of remainder therein had pas
to the person receiving such remainde
s of LEGACY TO EXECUTOR
. ro Sec. 81. When a decedent apo
,,.+. one or more executors or trustees ant
soid lieu of their compensation makes
:, its quest or devise of property to Il
NOV, which would otherwise be liable to a
,r+ ,s herein imposed or appoints them his re
;r+ , uary legatees, and said requests, dew
wilma or residuary legacies exceed what W.
s,,,, be a reasonable compensation for t
services, such excess shall be liable
,,,ou, the taxes herein imposed. The prol
and court having jurisdiction OF their
minis counts shall determine what would
nron- been such reasonable compensation,
of nm shall determine the amount of such
ration cess if any.
&C. III METHOD OF PAYING AND REFU
shall ING TAXES.
h ap-
nj, be Sec. 80. The state treasurer upon rec
~ an ing the amount of any tax under the
or visions of this act shall issue receipt