Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1913-08-29


.ne statutes new subdivision ii read section 1857
o,h, Ns1 No tax shall be imposed upon any TAM
saps personal property Of resident tteredent when
~ plopery Is located without this state and when
atlslcr q such properly Is subject to an Inherit
ahee er transfer tax in the state whera located ana
With Tax has actually been paid proyfded sI,ch
tle az T. nog without thus safe temporarily for
III sole PURPOSE Of deposit safe4keepng; and pro-
.1aea the laws Of the state where such property is
nsasea allow like exemption III relation to such
III this state $500 49, ioea -
= Section y subsections ! and OF section 1887
u tfe statutes repealed.
Seetion 4 There Is added to section 10s7-5 Of
,ne statutes new subsection to be numbered and to
t tss esection l0s7-51 T. All taxes imposed BY
act snail ne due and payable at the time of the
FansIer, except hereinafter provided and every
saeM lax snail be and remain lien upon the property
malsLerrea until paid. and the person to whom the
property Is transferred and the administrators exec
or and trustees of every estate so transferred shall
3 spetsonay liable for such tax until its payment
aecuen O. There is added to section 1878 Of the
statutes new subsection to read fSecton 1857 81
?. any person from whom any such tax is or may
e uue may make an estimate Of and pay the same
- me county treasurer who shall receipt therefor at
any time before the same is determined by the court
and shall thereupon he entitled to any Discount
and be relieved from any interest on penalty UPON the
amount 80 paid In the same manner as If The tax
M VETS then determined Any excess 50 paid shall be
~ such treasurer IF any inheritance tax money
u hls possession or hS the state treasurer when the
mlea such treasurer copy Of the order fixing such
lax and attached thereto certificate Of the Judge
7eatttS me amount OF fefund due
Section 6. Subsection 2 Of section 1DS7-1l Of the
statutes IS amended to read (Secton l0s7-lIl O.
No safe deposit company, bank, or other institution,
person OF persons holding securities or assets
nonresident decedent nor any foreign 81 domestic
porauon doing business within this state In which
nonresident decedent held stock at his decease sall
deiiver or transfer the to the executors adj
ors legal Representatives Of said decedent
81 upon their order or request unless notice OF the
ume ana place Of such intended transfer be served
qpon the tax commission and public ad-
ministrator at least ten days prior to the said trans
ter nor shall any such safe deposit company, bank
" oIner lhsltuflon person or persons nor such
foreign or domestic corporation. deliver transfer
| any securities or assets Of the estate Of mons
resident decedent without retaining sufficient portion
OF amount thereof to pay any tax which may there
aer &c assessed on account Of the transfer Of such
secnrines or assets under the provisions of the In
her1tance tax laws without order from the proper
c co authorizing such transfer; and It shall be law
ministrator personally or ny representative to ex
anime said securities assets at any time before
such delivery or transfer. Failure to serve such
notice or to allow such examination or to retain a
spffcent portion pay such tax as herein
provided, shall render said safe deposit company.
trust company, bank, other institution person
persons or such foreign domestic corporation liable
70 the payment Of the tax due said securities Or
tas u pursuance Of the provisions Of the
inheritance tax laws. The tax commission may issue
certificate authorizing the transfer Of any such stock
securities or assets whenever it appears to the sats
iacion OF the commission that tax is due thereon
repealed.
Section g. Subsection 5 Of section l087--12 and
subsection of section l0S7-l3 Of the statutes are
amended to read (Secticn 10S7--l2l g. The county
court and the Judge hereof the seat Of government
shall have Jurisdiction to hear and determine :
all questions relating to the determination and adjust
ment Of inheritance taxes In the estates Of nom
resident dccedets In which appears to- he due.
ana n when It dces not otherWlse appear necessary
for regular administration to be had therein. And
in such estates the public administrator may be APP
pointed as special administrator for tie purposes Of
such, adjustment The county treas n shall retain
for the use Of the county out Of al ch taxes paid
and accounted for only one per cen and the bal
ance, less the statutory expenses of collection and
adjustment fixed BY the court shall be paid into
he state treasury; provided. however, that the mini
mum fee to which the county shall be entitled shall
be three dollars in each and that In
no case shall the maximum fee exceed one
hundred dollars and the Judge shall be paid Two
dollars for each such case
upon the application Of any interested party inelud-
Ing the tax commission and public admin
istrator, upon its motion shall ais often as.
and whenever occasion may require. appoint com
petent person IS special appraiser TO fix the fair
market value at the time of the transfer thereof of the
the payment Of tax imposed by sections 1851
to l087--24, inclusive
Section 9. subsectons 2. 3. 4s and Of section
l087-13 of the statutes repealed
Section 10. Sections l087-l5 and 1oS7--16 Of the
statutes are amended to read (Section 1087-151
l. The report OF the special appraiser shall
be made in duplicate and not less than twenty days
before the hearing thereon Of said duplicates shall
he filed In the ONCE of the county court and tie other
shall be mailed to the tax Commission Al the time
and place of hearing the administration account the
county court shall examine such report and from the
shall forthwith deferInine the cash value Of such
estate and the amount of TO which the same is
liable. or, the county court without appointing such
appraiser may at the time hxed hear evidence and
determine the cash value OF such es ate and the
amount of tax to which the same is liable
q Notice of such hearing to determine
rhe inheritance tax shall be given in the manner
and may be included in the notice of hearing the
administration account provided in section 1881.
except where is slearly evident that tax is due:
and the hearing to determine such tax shall be held
at the same time and place the hearing provided
In said section 1891 q such other time the
court may order. But notice In writing Of such
hearing shall be mailed to the public atinistra or
and to the commission not less than twenty days
before such hearing such blanks and containing
such information as the tax commission may provide
s. If the county court without appointing such
special appraiser decide to hear evidence to the
cash value Of the estate inheritance tax
the may at the time Of the appointment of the
regular APPRAISERS Of the estate. or at any time
there after on its motion, motion OF the
appraiser 10 represent the county and state and such
additional appraiser shall report the inventory and
appraisal Of said property with the other APPRAISERS or
In of failure to In separate report and be
entitled to compensation of three dollars day for
each day necessarily employed in such appraisal. and
his mileage which fees shall be paid on the certificate
of the county Judge by the county treasurer out Of
Of the states inheritance tax funds he may have in
his possession.
The commissioner OF insurance shall, on appli-
cation Of any county court Of the tax commission.
determine the value Of any such future or contingent
estates income interests therein limited, contin-
gent dependent or determinable upon the life lives
of The person or persons in being upon the facts
the facts contained In the county courts finding and
determination and certify the same to the county
court and his certificate shall be presumpye evidence
that the method of computation adopted therein Is
correct.
s. Whenever a transfer Of property Is
made upon which there is. in any contingency
there may be. a tax imposed such property shall
be appraised its clear market value Immediately
npcn tho transfer thereafter practicable
The value of every future limited estate income.
interest annuity dependent upon any lie or lives
in being, shall be determined by the rule, method.
and standard Of mortality and value employed by the
commissioner of insurance In asceTtaining the value
of policies Of life insurance and annuities for the
determination Of liabilities OF life insurance COM
panies except that the rate Of interest for making
such computation shall be Ave cent per annm-
g. . In estimating the value of any estate
or interest In property 70 the beneficial enjoyment
or posses. whereof there persons or corpora
lions presently entitled thereto allowance shall be
made respect OF contingent tncumbence thereon
nor in respect Of any contingency the happening
OF which the estate property or some part thereof,
or interest therein might be abridged, defeated or d
miisled provided however that In the event or such
incumbrance taking effect actual burden upon
the interest of the beneficiary in the event OF the
abrie.gement defeat. dminuon Of such estate or
property or interest therein aforesaid, return
shall be made to the person properly entitled thereto
OF proportionate Of such tax in respect of
the amount or value of the ncumbrance when taking
eject or so much as will reduce the to the
amount which would have been assessed in respect OF
he actual duration extent OF the estate or interest
enjoyed. Such return of shall be made in the