Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1913-01-30
TspseisI cssssspoassues "a tie HsraIdI

Especial CsErsspeadsaoe "a tie HeraIdl
santa pc. y. ~. Jan. 2g--1;ie IA.
heritauce tax law made ~ appearan nc,
la tho Legislature today IN the form
% ball introduced by se.,ator " "
walton uf Grant county MIR Walton
nae made cnrefu study Of the In.
heritance tax question nnd his bin u
"p" lint is entitled Ca tho oarurs, con.
FidcratiUu uf the legislature. ~ b.
almost safe tu predict that this or n
similar measure VIII be- passed before
the session ends since the members
are almost unanimous IN the belief
thut nm inhgritance tax ~ one of tho
most equitable forms of taxation that
could be- devised Following is tho
text ~ tho moasurei
IN Act 10 tax gifts. icgacics and in
neritanccs IN certain cuses, aud "a
rrovid" for IA" collection Of tho same
BE Il enacted by the Legislature ot
the state %. Ncw Mckee.
section ! Al property. rcal per.
Fonal and miNod which shalt pass by
viii ~ ny thr interstate laws 81 this
state, from ans person who may die
F'izcd or possessed of the same aud
while q resident of this state or iC
dcccdent was not resident at this
state nt the Time of his death. which
property or any part thereof snail be-
within this state, or any interest there
iu or Income therefrom which shall
10" transferred hy deed. grant. sale or
GIT, made ln contemplation ut the
death ~ the gr1ntnr or harRninor or
intended &C. take cloci in possession or
enjoyment after such death. 90 any
u"rsun or persons. or to any body pol.
tio OF corporate In trust or other
wise. or hy reason whereof any person
90 body. polite or corporate. shall he
come hcuencullN entitled bon poFsrssinn
or expectation Go JnN property or in.
come thereof shall nr and b. subject 90
90 tax go tho rate hereinafter specified
tu boz p1id to the treasurer OF the
proper county for the use and bencnt
Of tho state. and AN leirs. leFatccs and
drVlscos. administrators. executors ana
trustees. shall hr Liable for any aud
an such taxes until the same shall
have Isrn paid 1s hereinafter directed.
when the beneficial Interests ia any
property or iprome thrr,fIum shall
pass 90 or for the U.s. of amy father.
mother husband. wife. child. brother.
sister. wife or widow Of the son. nus.
band 81 tho daughter. or any yhild or
children adopted ls such in conform
ity with tho laws of the state OF New
Moxico. or Co Hny person Z" whom the
decreased tor not less than ten years
urlor ~ death. stood in the acknow 81
'i'iErd relation uf unrrnt ur 20 any
luall descendant horn in Lawful. wed
IoUK. in every such cas-" th" rate of
tax shall h" one dollar ou every hun.
trrd DOLLAR uf tho clear market yalu"
uf such property received Dos each per.
son. and ut the Same ratio for ovoty
lr. amount provided that any osi1i"
which may lr valued 900 a sum legs
Unlu t,u Thousand dollars. shall not
b.. .rnj,.t lu au. such duty ur th"
'rNt, Hul 'ur taxes Go ID, hryi'd 100 the
above tigr uul, when tho excess OF
ten thousand dollars received hN each
u,Isult.t when the beneficial interest @"
any pruU,T'y cog income ihrr'lrup
FhuIl pass To- COZ tor no" usr of any
uncle. aunt, niece. nephew on uthor
uurll descendant OF the Same. ma every
tu,h cuso. th, IHtr OF such tax shall
Ir two dollars ON every ON, hundred
dollars OF tho clear market valu" ui
ouDh property received Iy each person
CON The ,Vc,sa pf iHD thousand, s." r".
,riycd nv each person, and ia ali Other
cases iuo rIt, shall br Ha follows. On
each ana every hundred dollars Of
the clear market Vulu" of am property,
aud 80 the same rate for any less
amount up to nyr thousand dollars,
two dollars. ON all estates Of over
I'VE thousand dollars ana not exceed
ing ten thousand dollars three dollars,
on am estates ct over ten thousand
dollars and not exceeding twenty-five
thousand dollars four dollars ON hIl
estates OF over twenty thousand dol
hers ana not exceeding hfty thousand
dollars. nyc dollars. ana an ALI estates
over nft, thousand dollars, sis dol
lars. Provided. that am estate I'm the
above case which may hc valued ut %
sum less than Ave hundred dollars,
shall not be- subject Co any duty or
t1N
Sec. .. When any person shalt he
oucath or devise any property or IN