Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1911-08-04

elections hereafter to be held in sait
city.
Section 2. All acts or parts ,s Of 1 at !;
this act are hereby repealed.
Section 8. This act shall take e1fec
ana be in force from and AFTER It's PAS
sage and publication.
Approved July 8, 1911. Local Law
CHAPTER $50, LAWS OF 1911:
AN ACT to amend section 1854 of the
statutes, relating to exemptions; sec.
lions 1087-11, 1087-12 Of the statutes
relating to cases of nonresident de:
cedents, subdivision 5 of section HOS
-15, and section 1087-19, relating tf
notices of and order determlnlng tax
and to create section 10S7-11m or the
statutes, all relating to inheritance
| tax laws.
The people of the State Of Wisconsin n
represented in Senate and Assembly
do enact as follows:
Section /. Section 1854 Of the
statutes Is amended to read: Section
LOST The following exemptions qI
first. twenty-five thousand dollars, are
hereby allowed:
/. All property transferred to munich
| pal corporations within the state FOL
strictly county, town, or municipal pur-
| poses, or to corporations of this state
organized under it's laws, solely for re-
lig1ous. charitable, or educational pur-
|
transferred exclusively for the. pur-
poses of their organization, within the
state. shall be exempt.
The Inheritance tax laws
shall not be held applicable to any
transfer of property heretofore made to
any county, town, or municipal cor
poration within the state for strictly
-, 2. Property of the clear value Of ten
thousand dollars transferred to the
widow, of the decedent, and two thou
other persons described in the first sub
| division Of section 1887
shall be exempt
3. Property of the clear value Of five
the persons described in the second sub
division Of section 1882
4. Property Of the clear value of two
to each of the persons described in the
| third subdivision of section
| 1882 shall be exempt.
| B. Property of the clear value OF one
hundred and fifty dollars transferred to
each of the persons described in the
| fourth subdivision Of section
lO87-2 shall be exempt
+. Property Of the clear value OF one
| hundred dollars transferred to- each Of
the persons and corporations described
in the fifth subdivision of section
|" 1882 shall be exempt.
| Section 2. Section 1087-11 Of the
statutes is amended to read: Section
1087-11. /. If a foreign executor, ad-
| m1nistrator, or trustee shall assign or
transfer any stock or obligations in this
state, standing in the name of decd
ent, or in trust for a decedent, liable
to any such tax, the tax shall be paid to
the treasurer Of the proper county or
the state treasurer, on the transfer
thereof.
2. No safe deposit company. bank,
or other institution, person or persons,
holding securities or assets of nom
resident 6RcPG6nf foreign
domestic corporation doing business
within this state in which non-resid-
ent decedent held stock at his decease,
shall deliver or transfer the same to
the executors, administrators, or legal
representatives of said decedent, or up
on their order or request, unless notice
of the time and place of such intended
transfer be served upon the attorney
general at least ten days prior to the
said transfer; nor shall any such safe
deposit company bank, or other fnstt-
tuition, person or persons, nor any such
foreign or domestic corporation, deliver
any securities or assets of the estate of
a nonresident decedent without retain
ing sufficient portion or amount
thereafter be assessed on account of the
transfer of such securities or assets I'M
der the provisions Of the in
heritance tax laws, without an order
from the proper court auth arizing such
transfer; and 1t shall be lawful for the
attorney general or public administra-
tor personally or by representative, to
examine said securities or assets at
= any time before such
delivery or transfer Failure to serve
such notice or to allow such eXamina
ton or to retain sufficient portion or
amount OF pay such tax as herein pro-
Vided, shall render said safe deposit
company trust company, bank, or other
institution, person or persons, or such
foreign or domestic corporation, liable
to the payment of the tax due upon
said securities or assets in the pursu-
ance of the provisions of the
inheritance tax laws.
ed to read: Section 1087-12. l The
county court of every county OF the
state having jurisdiction to grant let
ters testamentary or Of administration
property is charrgeable with any tax
laws, or to appoint a trustee Of such
estate or any part thereof, or to give
jurisdiction to hear and determine all
questions arising under the provisions
of the Inheritance tax laws
and to do any act in relation thereto
authorized by law to be done by a coun-
ty court in other matters or proceedings
coming within it's Jurisdiction: and If
two or more county courts shall be en-
titled to exercise any such jurisdiction,
the county court first acquiring juriS-
diction hereunder, shall retain the same
to the exclusion of every other county
court.
2. Every petition for ancillary letters
teStamentary or of administration shall
include the public administrator as
person to be notified. and a true and
correct statement of all the decedent's
property in this state with the value
thereof; upon presentation thereof, the
county court shall cause the order for
hearing to be served personally upon
the public admins traitor; and upon the
hearing, the county court shall deter
mint the amount Of the inheritance tax
which may be or become due, and the
decree awarding the letters may con-
tain provisions for the payment Of such
tax or the giving Of security thereof.
3. The county court and the Judge
thereof at the seat of government shall
have jurisdiction to hear and determine,
as other matters not appertaining to it's
regular probate business, ali questions
relating to the determination and ad-
justment of inheritance taxes in the
estates OF nonresident decedents In
which 1t does not otherwise appear
necessary for regular administration to
be had therein. And in such estates the
public administrator may be appointed
as special administrator for the pur-
poses of such adjustment. The county
treasurer shall retain for the use Of
the county out of all such taxes paid
and accounted for, only one per cent,
and the balance, less the statutory ex-
penses of collection and adjustment as
fixed by the court shall be paid into
the state treasury; provided, however
that the minimum fee to which the