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surviving tenant by the entirety, joint tenant or joint tenants, person or persons, by such deceased tenant by the entirety, joint tenant or joint depositor by will. The provisions of this subdivision shall apply in the case of any tenancy by the entirety which was taxable under the provisions of article ten of this chapter prior to the time when this article takes effect.

5. Any transfer of property included within any of the classes specified in subdivision one of this section, or of any beneficial interest therein, effected by operation of law upon the death of a person omitting to make a valid disposition thereof, including a husband's right as tenant by the curtesy or the right of a husband to succeed to the personal property of his wife who dies intestate leaving no descendants her surviving, shall be taxable under the provisions of this article.

6. Nothing in this section shall be taken to include deposits in banks or trust companies or with persons or corporations acting as bankers, or to permit of a transfer tax by reason of keeping securities other than those taxable under this article, within this state.

§ 248-a. Deductions. The clear market value of real property for the purposes of this article, whether taxable or nontaxable, shall be ascertained by deducting from the value thereof the amount of any incumbrances thereon. There shall also be deducted from the clear market value of any property or interest therein taxable under the provisions of this article, in cases where the transfer is by will or intestate laws, such proportion of the debts and funeral expenses of the decedent and such proportion of the expenses of administering the decedent's estate as the clear market value of the real property of the decedent within this state, ascertained as aforesaid, plus the clear market value of the personal property of the decedent within this state taxable under this article bears to the total clear market value of the real property of such decedent wheresoever situated, ascertained as aforesaid, plus the total clear market value of the personal property of the decedent wheresoever situated. No deductions from the clear market value of taxable property shall be allowed if the transfer is not by will or intestate laws.

§ 248-b. Rates of tax. Upon all transfers by will or intestate laws taxable under the provisions of this article of property or any beneficial interest therein, a tax is hereby imposed at the rate of three per centum upon the clear market value of the property or interest transferred, less the deductions specified in section two hundred forty-eight-a and in the case of any other transfer taxable under the provisions of this article a tax is hereby imposed at the rate of two per centum upon the clear market value of the property or interest transferred; provided, however, that in case of a transfer by will or intestate laws the executor or administrator of the estate may waive the right to any deductions (other than incumbrances on real property) as provided for in section two hundred forty-eight-a and elect to pay a tax of two per centum on the entire value of the property subject to taxation under this article.

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§ 248-c. Accrual and payment of tax. All taxes imposed by this article shall be due and payable at the time of the transfer. Such tax shall be paid to the tax commission which shall furnish duplicate receipts for such payment.

§ 248-d. Discount and interest. If such tax is paid within six months from the time of the transfer, a discount of five per centum shall be allowed and deducted therefrom. If such tax is not paid within eighteen months from the time of the transfer, interest shall be charged and collected thereon at the rate of ten per centum per annum from the time of the transfer; unless by reason of claims made upon the estate, necessary litigation or other unavoidable cause of delay, the tax commission shall determine that such tax could not be determined and paid as herein provided, in which case interest at the rate of six per centum per annum shall be charged upon such tax from the accrual thereof until the cause of such delay is removed, after which ten per centum shall be charged.

§ 248-e. Lien of tax; warrant for collection. Every such tax shall be and remain a lien upon the property transferred until paid; and the transferor or executor, administrator or trustee of the estate shall be personally liable for such tax. Every executor. administrator or trustee shall have full power to sell so much of the property subject to the tax as will enable him to pay such tax in the same manner as he might be entitled by law to do for the payment of the debts of the testator or intestate. The tax commission shall have power to enforce the lien hereby created by action, may maintain an action against the transferor or executor, administrator or trustee personally to recover the tax, or if the tax is not paid within eighteen months after the transfer the tax commission may issue a warrant under its official seal directed to the sheriff of any county, commanding him to levy upon and sell any or all of the real and personal property transferred found within his county for the payment of the amount thereof with interest as provided herein, and the cost of executing the warrant, and to return such warrant to the tax commission and pay to it the money collected by virtue thereof by a time to be therein specified not later than sixty days from the date of the warrant. The sheriff to whom any such warrant shall be directed shall proceed upon the same in all respects, with like effect and in the same manner as prescribed by law in respect to executions issued against property upon judgments of courts of record and shall be entitled to the same fees for his services in executing the warrant to be collected in the same manner. In the discretion of the tax commission a warrant of like terms, force and effect may be issued and directed to any of its employees designated for that purpose, and in the execution thereof such employee shall have all the powers. conferred by law upon sheriffs, but shall be entitled to no fee or compensation in excess of actual expenses paid in the performance of such duty. If a warrant be returned not satisfied in full, the tax commission shall have the same remedies to enforce the claim for taxes against the transferor or executor, administrator

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or trustee as if the people of the state had recovered judgment against the transferor or executor, administrator or trustee for the amount of the tax.

§ 248-f. Refund of tax erroneously paid. Whenever the tax commission shall determine that any tax collected under the provisions of this article has been erroneously collected, the amount so determined shall be refunded, without interest, out of the funds in the custody of the comptroller to the credit of such taxes.

§ 248-g. Transfer in contemplation of death. Any transfer of his property made by a decedent by deed, sale or gift within two years prior to his death, without a valid and adequate consideration therefor, shall be presumed to have been made in contemplation of death within the meaning of this chapter.

§ 248-h. Receipts for taxes. The receipts issued for the payment of any tax under this article shall be signed and sealed by the tax commission. No executor, administrator or trustee shall be entitled to a final accounting of an estate in settlement of which a tax is due under the provisions of this article, unless he shall produce a final receipt so signed and sealed, or a certified copy thereof. Any person shall, upon the payment of fifty cents to the tax commission, be entitled to a duplicate receipt, to be signed and sealed in the same manner as the original.

Any person shall, upon the payment of fifty cents, be entitled to a certi. ficate of the tax commission that the tax upon the transfer of any real estate of which any decedent died seized has been paid, such certificate to designate the real property upon which such tax is paid, the name of the person so paying the same, and whether in full of such tax. Such certificate may be recorded in the office of the recording officer of the county where such real property is situated, in the book labeled “transfer tax.

§ 248-i. Disposition of revenues. The tax commission shall deposit all taxes collected by it under this article in a responsible bank, banking house or trust company in the city of Albany designated by the comptroller to the credit of the comptroller on account of the transfer tax. Every such bank, banking house or trust company shall execute and file in the office of the comptroller an undertaking to the state, in the sum, and with such sureties, as are required and approved by the comptroller, for the safe keeping and prompt payment on legal demand therefor of all such moneys held by or on deposit in such bank, banking house or trust company, with interest thereon on daily balances at such rate as may be agreed upon. Every such undertaking shall have indorsed thereon, or annexed thereto, the approval of the attorney. general as to its form. The tax commission shall on the first day of each month make a verified return to the treasurer of all taxes received by it under this article, stating for what estate, and by whom and when paid; and shall credit itself with all expenditures made since its last previous return on account of such taxes, for refunds lawfully chargeable thereto. The comptroller shall on or before the tenth day of each month pay to the treasurer the

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balance of such taxes remaining in his hands at the close of business on the last day of the previous month.

All taxes levied and collected under this article when paid into the treasury of the state shall be applicable to the expenses of the state government and to such other purposes as the legislature shall by law direct.

§ 248-j. Returns of taxable property. The transferor executor or administrator of every estate shall at such times and in such manner as may be required by the tax commission file with it a return under oath, setting forth such information as the tax commission may require. The tax commission may require such return to be made in duplicate and may also require such supplemental returns or additional data as may be necessary to establish the correct tax.

§ 248-k. Exemptions. There shall be no exemptions whatsoever from the tax imposed by this article.

§ 248-1. Limitation of time. The provisions of the civil practice act relative to the limitation of time of enforcing a civil remedy shall not apply to any proceeding or action taken to levy, appraise, assess, determine or enforce the collection of any tas or interest prescribed by this article; provided, however, that as to real property in the hands of bona fide purchasers the transfer tax shall be presumed to be paid and cease to be a lien as against such purchasers after the expiration of six years from the date of accrual.

§ 248-m. Powers of the tax commission. The powers conferred upon the tax commission by sections one hundred and seventy-one and one hundred and seventy-one-b of this chapter shall, so far as applicable, be exercisable with respect to the provisions of this article.

§ 248-n. 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.

§ 248-0. Assessment of tax. The value of any property tax able under the provisions of this article and the amount of tax imposed thereon shall be determined by the tax commission which shall give notice of its determination and an opportunity to be heard with respect thereto to the transferor, executor, administrator, trustee or other person liable for the payment thereof. The tax shall be imposed upon the transfer of the property situated within this state and not upon the persons to whom the property is transferred.

§ 248-p. Reciprocity. The tax imposed by this article in respect of personal property shall not be payable (1) if the transferor is a resident of a state or territory of the United States which at the time of the transfer did not impose a transfer tax or death tax

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of any character in respect of personal property within said state
or territory of residents of this state, or (2) if the laws of the state
or territory of residence of the transferor at the time of the trans-
fer contained a reciprocal provision under which nonresidents
were exempted from transfer taxes or death taxes of every char-
acter in respect of personal property providing the state or terri-
tory of residence of such nonresidents allowed a similar exemption
to residents of the state or territory of residence of such transferor.

§ 10. This act shall take effect July first, nineteen hundred and Jeffect twenty-five.

1925.

CHAPTER 144

2

AN ACT to amend the tax law, in relation to the transfer tax on contingent

remainders. 1

Became a law March 16, 1925, with the approval of the Governor. Passed,

three-fifths being present.
The People of the State of New York, represented in Senate and Assembly,
do enact as follows:

Section 1. Section two hundred and thirty of chapter sixty-two of L 1909,
the laws of nineteen hundred and nine, entitled “An act in relation $ 230
to taxation, constituting chapter sixty of the consolidated laws," amended.
as last amended by chapter six hundred and fifty-seven of the laws
of nineteen hundred and twenty-four,” is hereby amended to read
as follows:

§ 230. Proceedings by appraiser. In each county in which the office of appraiser is not salaried the county treasurer shall act as appraiser. The surrogate, either upon his own motion, or upon the application of any interested person, including the tax commission, shall by order direct the person or one of the persons appointed pursuant to section two hundred and twenty-nine of this chapter in counties in which the office of appraiser is salaried, and in other counties, the county treasurer, to fix the fair market value of property of persons whose estates shall be subject to the payment of any tax imposed by this article.

Every such appraiser shall forthwith give notice by mail to all persons known to have a claim or interest in the property to be appraised, including the tax commission, and to such persons as the surrogate may by order direct, of the time and place when he will appraise such property. He shall at such time and place appraise the same at its fair market value as herein prescribed ; and for that purpose the said appraiser is authorized to issue subpoenas and to compel the attendance of witnesses before him and to take the evidence of such witnesses under oath concerning such property and the value thereof; and he shall make report thereof and of such value in writing, to the said surrogate, together with the depositions of the witnesses examined, and such other facts in

1 The amendments effected by this act are so numerous and extensive that it is not practicable to indicate the changes made.

2 Previously amended by L. 1911, ch. 800; L. 1916, ch. 550; L. 1921, ch. 476.

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