115 Misc. 697 | N.Y. Sur. Ct. | 1920
This is an appeal by executors from the order entered on the report of the transfer tax appraiser upon the ground that a deduction of the statutory commissions was not allowed by him.
The will provides: “ I give and bequeath to my executor and executrices hereinafter named one thou-
“ Section 226. Taxes upon devises and bequests in lieu of commissions.— If a testator bequeaths or devises property to one or more executors or trustees in lieu of their commissions or allowances, or makes them his legatees to an amount exceeding the commissions or allowances prescribed by law for an executor or trustee, the excess in value of the property so bequeathed or devised above the amount of commissions or allowances prescribed by law in similar cases shall be taxable under this article.”
Several other legacies are given in the will to each
The sum of $1,200 should therefore have been allowed as a deduction from the interest of each person named as executor. Submit order remitting the report to the appraiser for correction accordingly.
Ordered accordingly.