The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1909-07-29

the payment of any tax imposed by this act.
2. Whenever a transfer OF property Is
made upon which there is, or in any con-
tingency there may be, tax imposed, sucn
property shall be appraised at It's clear
market value Immediately upon the trans
fer or as soon thereafter as practlcapie'
The value of every future or limited estate,
income, interest, or annuity dependent upon
any life or lives in being, snail De ue
termined by the rule, method, and STANDARD
of mortality and value employs oor ~ ming inc
the value Of policies of life insurance anu
annuities for the determination OF liaDlli-
the rate of interest for making such COM
putation shall be Eve per centum per an
mum.
g. In estimating the value of any estate
or interest in property to the beneficial en-
joyment of possession whereof there are
persons or corporations presently entitled
thereto, no allowance shall be made in re-
spect of any contingent incumbrance there
on, nor in respect of any contingency upon
the happening of which the estate or prop
erty or some part thereof, or interest there
in, might be abridged, defeated, or dimin-
ished provided, however, that in the event
of such incumbrance taking effect as an ac-
tual burden upon the interest of the bene-
hc1ary or in the event of the abridgment,
defeat, or diminution of such estate or prop
efty or interest therein as aforesaid, re-
turn shall be made to the person properly
entitled thereto of a pr0portionate amount
of such tax in respect of the amount or
or so much as will reduce the same to
the amount which would have been as
sessed In respect of the actual duration or
extent of the estate or interest enjoyed.
Such return of tax shall DE made in the
manner provided In section 10S7-S.
4. Where any property shall after the
passage Of this act be transferred subject
to any charge, estate. or interest determin-
able by the death of any person or at any
period ascertainabie only by reference to
death, the increase of benefit accruing to
any person or corporation upon the extinc-
tion or determination of such charge, estate
or interest shall be deemed a transfer of
property taxable under the provisions of
this act In the same manner as though the
person or corporation benefciaily entitled
thereto mad then acquired such increase of
benefit from the person from whom the title
to their respective estates or interests is
derived.
s. When property is transferred in trust
or otherwise, and the rights, interests. or
estates Of the transferees are dependent
upon contingencies or conditions whereby
they may be wholly or In part created, de-
feated, extended, or abridged, a tax shall
be imposed upon such transfer at the lowest
rate which on the happening of any of the
said contingencies or conditions would be
possible under the provisions of this act,
and such tax so imposed shall be due and
payable forthwith out of the property trans
ferred; provided, however, that on the hap
p Lthnnas OF ~, any contingency or condition
thereof is transferred to a person or corpo-
ration, which under the provisions Of this
act is required to pay tax at higher
transferee shall pay the difference between
the tax imposed and the tax at the higher
rate, and the amount Of such increased tax
shall be enforced and collected as provided
In this act.
6. Estates in expectancy which are con-
tinsent or defeasible ana in which proceed
ings for determination of the tax have not
been taken or where the taxation thereof
Shol hn ~ is
ed at their full undiminished clear value
when the persons entitled thereto shall
come into the beneficial enjoyment or pos
session thereof without diminutiOn for or
on account of any valuation heretofore
made OF the particular estates for purposes
OF taxation upon which said estates in ex-
pectancy may have been limited. Where
an estate for life or for years can be d.
vested by the act or omission of the lega-
tee or devisee, it shall be taxed as if there
were no possibility of such diyesting.
Section 8. Section 1087-14 Of the stat
utes is amended to read: Section 1857
IA. Every such appraiser shall forthwith
give notice by mail to all persons known to
have a claim or interest in the property
to be appraised, including the public adj
ministrator = and to such persons as the
county court may by order direct, Of the
time and place when he will appraise such
property. He SHALL at such time and place,
appraise the same at its fair market value,
as herein prescribed, and for that purpose
the said appraiser is authorized to issue
subpoenas and to compel the attendance
OF witnesses before him and to take the evi-
dence Of such witnesses under oath concern
ing such property and the value thereof !;
and he shall make report thereof and of
court, together with the dispositions of the
witnesses examined, and such other facts In
relation thereto and to the said matter as
the said county court may order or require.
Every appraiser shall be paid on the certi-
hcate OF the county court at the rate OF
three dollars per day for every day actually
and necessarily employed in such appraisal,
and his actual and necessary travelling
expenses and the fees paid such witnesses,
which fees shall be the same as those now
paid to witnesses subpoenaed to attend in
courts OF record, by the county treasurer
out of any funds he may have in his hands
on account OF any tax imposed under the
provisions of this act.
Section o. Section 10S7-15 Of the stat
utes Is amended to read: Section 1857
10. I. The report Of the special appraiser
shall be made in duplicate, one Of which du-
plicates shall be fled in the Office Of the
county court and the other in the ONCE Of
report, -" the county court shall forth
with give. twenty days notice by mail to all
persons known to be interested In the
e ea6e nsHdRg the general and
place for the hearing In the matter of such
report, and the county court, from such re-
port and other proofs relating to any such
estate. shall forthwith at the time SO fixed,
determine the cash value of such estate and
the amount Of tax to which the same In
liable.
2. Or the county court without appoint
ing such appraiser upon giving twenty
days notice by mail to all persons known to
be interested In the estate, including the
attorney general and public administrator
at the time so fixed hear evidence and
determine the cash value Of such estate and
the amount Of tax to which the same L.
liable II the residence or postofice address
fQd In efota Ia
known to the executor. administrator, or
trustee, notice OF the hearing In the mat
ter of the report of the appraiser or
pointing such = appraiser will determine
the cash value Of an estate, shall be given
to all such persons by publication of such
prior to the time fixed for such hearing
or determination in such newspaper pub
lished within the county as the court shall
direct.
3. If the county court without appoint
ing such special appraiser decide to hear
evidence as to the cash value of the estate
for inheritance tax purposes, the court may,
at the time Of the appointment Of the regu-
lar appraisers Of the estate, on its own mo-
ton, designate an additional third appraiser
to represent the county and state, and such
tory and appraisal of said property with
the other appraisers; or, In case Of failure
to agree, In a separate report, and be en-
day for each day necessarily employed ia
such appraisal and his mileage, which fees
shall be paid on the certificate Of the
county Judge by the county treasurer out of
any Of the states inheritance tax funds
he may have In hts possession.
f. The commissioner Of insurance shall
on application Of any county court deter
mine the value Of any such future or con-
tingent estates. income, or interests there
In. limited, contingent, dependent, or deter
minable upon the life or lives Of the person
or persons In being upon the facts contained
In such special appraisers report or upon
the facts contained in the county courts