Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1913-08-22

Section g. This act shall take effect
upon passage and publication.
~ cHAPT1ER e27, Laws Of ISIS.
AN ACT-To amend section 1O87-1; to
create subdivision % of section
1857; to repeal subsections and 4
subsection Of section 1875 to be
subsection Of section 1os7-s; to
amend subsection of section 1887
amend su bsection Of section 1887
IL and subsection l of section 1887
10; to repeal subsections 2, 3, 4, 5
and 6 of section 10S7-13; to amend
sections 10S7-15 and 1OS7-16; to
repeal subsection 1 of section 1887
II; to create a new subsection Of
section 1087-17 to be numbered
subsection /; to amend subsection
Of section 10S7-17 and subsec-
lions /, 2, 8, 4. S and Of section
section 1087-18; to amend sections
10S7-21, 3S13a, 1913 and 1862 Of the
statutes, relating to the Inheritance
tax.
The people of the State Of Wisconsin,
represented in Senate and Assembly, do
enact as follows:
Section 1. Section 1851 of the
statutes is amended to read: Section
lUSl-l. "A TAX SUaII Do anu Is IGI0-
by imposed upon any transfer of prop
erty, real personal or mixed, or any
interest therein, or income there
from in trust or otherwise, to any per-
son, association or corporation, except
county, town or municipal corporations
within the state, for strictly county,
town or municipal purposes, and cor
porations Of this state organized I'M
der it's laws solely for religious, char
liable or educational purposes, which
shall use the property so transferred
exclusively for the purposes of their
organization, within the state, in the
following cases, except as hereinafter
provided.
CD When the transfer is by will or
by the intestate laws of this state
from any person dying possessed of
the property While a resident of the
state.
(2) When a transfer is by will or
intestate law, Of property within the
state or within it's jurisdiction and the
decedent was a nonresident Of the state
at the time Of his death.
90 When the transfer is Of proper
ty made by a resident or by a nonresi
dent when such nonresidents property
is within this state, or within it's jur-
isdiction, by deed, grant, bargain, sale
or gift, made in contemplation of the
death of the grantor, vendor or donor,
or intended to take effect in posses
sion or enjoyment at or after such
death.
(4) Such tax shall be imposed when
any such person or corporation be-
comes benefcially entitled, in possess
sion or expectancy, to any property or
the income thereof, by any such trans
fer whether made before or after the
passage Of this act; provided, that
in such persons or corporations before
this act shall take effect, shall not be
subject to q tax; and provided FUR
Their, that contingent interests created
hxr "a will of
prior to the passage of this act shall
not be taxed.
go Whenever any person or cor
poration shall exercise power of ap-
ton of property, made either before or
after the passage Of sections 1851
to 1087-24, inclusive, such appoint
ment, when made, shall be deemed a
transfer taxable under the provisions
of sections 1851 to 10S7-24, in
elusive, in the same manner as though
the property to which such appoint
ment relates belonged absolutely to the
donee of such power, and had been
bequeathed or devised by such donee
by will; and whenever any such person
or corporation possessing such pow
er of appointment so derived shall
omit or fail to exercise the same with
in the time provided therefor, in whole
or in part, a transfer taxable under
the provisions of sections 1851 to
1087-24. inclusive, shall be deemed to
take place to the extent of such omis-
sion or failure, in the same manner as
thereby becoming entitled to the pos
session or enjoyment of the property
to which such power related had sue
ceeded thereto by a will of the donee
Of the power failing to exercise Such
power, taking effect at the time of
such omission or failure.
co The tax so imposed shall be up
on the clear market value of such
property at the rates hereinafter pre-
scribed and only upon the excess of
the exemptions hereinafter granted.
Section 2. There is added to sec
ton 1854 of the statutes new sub
division to read: (Section 1879
CD No tax shall be imposed upon any
tangible personal property of resid-
ent decedent when such property is
located without this state, and when
the transfer of such property is sub.
ject to an inheritance or transfer tax
in the state where located and which
tax has actually been paid, provided
such property is not without this state
temporarily nor for the sole purpose
Of deposit or safe-keeping; and pro-
property is located allow like ex-
emption in relation to such property
left by a resident Of that state and
located in this state.
Section 8. subsections 1 and 4 Of
section 10s7-5 Of the statutes are re-
Section I. There is added to sec
tion 1875 of the statutes new sub
section to be numbered and to read:
(Section 1087-5) /. All taxes i'm
posed by this act shall be due and
payable at the time Of the transfer, ex-
cept as hereinafter provided; and
every such tax shall be and remain
a lien upon the property transferred
until paid, and the person to whom
the property is transferred and the
administrators, executors, and trustees
of every estate SO transferred shall
be personally liable for such tax until
it's payment.
Section 5. There is added to Sec
ton 1873 of the statutes new sub
section to read: (Section 1087-8) 8.
Any person from whom any such tax
is or may be due may make an esti-
mate Of and pay the same to the
county treasurer, who shall receipt
therefor, ct any time before the same
is determined by the court, and shall
thereupon be entitled to any discount
and be relieved from any interest or
penalty upon the amount so paid in
the same manner as if the tax were
then determined. Any excess so paid
shall be refunded to the person so
paying or entitled thereto by such
treasurer out of any inheritance tax
money in his possession, or by the
state treasurer when the county trea-
surer Is without such money, upon
filing with such treasurer q copy of
49,