The midland journal. (Rising Sun, Md.) 1885-1947, 1929-06-14

III ~ LxYand. 70 subject 20 the y Mary
az The term Non-taxable prop
erty" MANS all parts of said Estate \
or Inc therein. other than the
term .3Credit, means the
maximu credit for any estate. in
heritanl legacy, or succession taxes
paid to- my state or Territory or the
Distric of Columbia. allowable with
respect 10 the gross Federal Estate
Tax" III Section 301 OBJ of said
"Reve10k Act OF 1926" said maxi
mum Wedit. however, to be reduced
in the plroportion which the amount
of the t1Non-taxable property bears
to the hinount of the entire Estate.
of the Hpecedent."
ID The term 'tState Taxes" means
the aggtegate estate. inheritance. sue
cession, collateral Inheritance and /or
legacy taxes paid to any State, Ter
ritory orl the District of Columbia, in
Guiding also such taxes of any of the
above KINDS as are imposed by the
State OIL Maryland other than the
"Marylaihd Estate Tax imposed by
this Article, allowable in computing
the max lmum credit under said Sec
ton ;301 l(b) of said Revenue Act
of 1921 except such taxes of any
of the above kinds upon or with re-
spect to 'sNon-taxable property" of
the "Deckdent."
2. TAst IMPOSED. In addition to
the tax and for taxes imposed by Ar
ticle 81. la Maryland Estate Tax" is
hereby Imposed upon the transfer of
the Maryland Estate" of every De-
cedent." the amount of which Mary
land EstHte Tax" shall be equal to
the exteiht, If any. of the excess of
the Credit" over the aggregate of
State TAxes," payable by or out of
the "Ma{-yland Estate" of the DE
cedent" cir any part thereof. provided.
however, What such maryland Estate
Tax" hereby imposed shall in no case
exceed the extent to which its pay
ment will effect saving or diminu-
ton in the amount OF the Federal
Estate Tax" payable by or out of
the Estate" of the ''Decedent" had
this Article not been enacted.
8. WHEN PAYABLE. The MARY
land Estate Tax" shall be payable at
the same time or times at which the
shall bear interest, if any, at the
same rate and for the same period as
such Federal Estate Tax"
4. TO WHOM PAYABLE. The
"Marylanh Estate Tax" shall be
charge Upon the entire Maryland
Estate" Of the "Decedent": and the
Executor shall pay the same to
the Register of Wills of the city or
county il which administration is
had, or If none such, where the DE-
cedent" had his residence, and at the
time of Payment shall file with such
Register an affidavit showing:
% The amount Of the Federal
Estate TAX" before allowing the max
imum credit for taxes of any of the
kinds as provided in said Section sol
(b) of said Revenue Act of 1926:
CD The proportion of 'Non-Taxa-
BILE PROPERTY to the entire Estate"
as referred to In Section Chi Of this
| Article;
(s) Th9 amount Of state Taxes;
(D The amount Of any additional
taE sderal z st sae f Il Il the De.
cedent";
(5l THIS amount Of the Maryland
1 Estate Ia
CO.. Tho amount of interest, IL any,
| paid on such Federal Estate Tax"
and the 4eriod covered by such in
terest, toaether with the amounts. if
any. OF any of said items heretofore
paid
The several Registers of Wills in
this State shall account to the Comp
trolier for all moneys so collected
monthly, who shall receipt therefor
and forthwith pay over to the State
Treasurer all moneys thus received:
| provided, however, that the said
Comptroller shall retain in his hands
| at all times such a sum as, in his
| judgment, shall be sufficient to enable
him to pay promptly all claims for
refunds as provided for in Sections
and 10 Of this Act.
5. ADDITIONAL ASSESSMENT OF
TAX OR REFUND OF EXCESS
PAY MENT If the amount of Fed
eral Estate Tax shall. upon the final
QetSrn1nattDn of the same be in
creased or decreased as affecting an
Estate" the transfer of any part
whereof is taxable hereunder subse-
! quent to the payment of the MARY
land Estate Tax" the said Maryland
Estate Tax imposed shall be changed
accordingly Any additional Mary
land Estate Tax shall be payable at
the same time or times at which the
additional Federal Estate Tax is
| payable. Ii the event that there shall
be a decrease in said Federal Estate
Tax" said Executor" shall file with
the ComptrS1ler of the State of Mary
| land an affdavit in such form as is
prescribed BY said Comptroller. set
| ting forth:
(a) The amount of Federal Estate
Tax" as oritinally computed;
(b) The amount of said Federal
Estate Tax las revised and decreased:
Co They amount Of Maryland
Estate Tax" heretofore paid and date
of paymentA
(d) The1 amount of Maryland
Estate Tax properly payable in view
or such revision and decrease of Fed
eral Estate TAX
With said afiidavit shall also be
filed:
(a) A certificate or other evidence
from the Buieau of Internal Revenue
showing the amount of Federal
Estate Tax as so revised and de-
creased;
(b) A certified copy of the affidavit
filed with the Register of Wills as
provided in section of this Article;
(c) A dpblicate receipt by said
Register Of wills for the Maryland
Estate Tax Htheretofore paid. show
ing date OF Aayment;
(d) Such other evidence as said
Comptroller hH require in order to
enable said hptroller to determine
the Maryia Estate Tax" properly
payable and he amount. II any. of
any refund 8
SAID COY 0ller--sh -flfereupon
cause III to said Executor
from the FIN retained by him, as
provided in Netion OF this Act.
| the amount b refund found to be
due, together with interest thereon
at the rate o six per centum t6eal
from the da@ of payment of the
Maryland E4ate Tax" and If the
| fund -rotained by the Comptroller
shah be flcient. the Comptroller
shall retain fom the next subsequent
| receipts OF The maryland Estate
Tax such AMOUNT as will be neces-
sary to make the said refund.
6. REIMBURSEMENT OF PER-
SONS OTHEk THAN LEGAL REP
RESENTATT1ES PAYING TAX. If
the "Marylanl Estate Tax" or any
part thereof 5 paid by. or collected
out of that BART of the Maryland
Estate passiig to or in the posses