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Matter of Estate of William Clark Arkell

Decided: October 18, 1968.

IN THE MATTER OF THE ESTATE OF WILLIAM CLARK ARKELL, DECEASED


Gaulkin, Collester and Labrecque. The opinion of the court was delivered by Gaulkin, S.j.a.d.

Gaulkin

In calculating the taxable value of decedent's estate, the Transfer Inheritance Tax Bureau (Bureau) refused to allow as a deduction that portion of the executors' commission which was calculated upon the amount by which the market value of the common stocks left by the testator had risen since his death. The executors appeal. We affirm.

In 1962 the Bureau promulgated a ruling which reads in part as follows:

"Pursuant to the authority granted by the Director of the Division of Taxation the following policy will be followed in determining the amount to be allowed as a deduction for executor's or administrator's commissions. (R.S. 54:34-5c; N.J.S. 3A:10-1 et seq).

1. Rates

First $100,000.00 -- 5% (Statutory)

Next 400,000.00 -- 3 1/2%

Next 500,000.00 -- 3%

Excess over 1,000,000.00 -- 2%

* * *

3. Where a formal account is filed, and the amount allowed by the court for the executor's or administrator's commissions is greater than the amount previously fixed by the Bureau, the examiner shall, before revising the assessment, obtain a plain copy of the judgment allowing commissions, and shall apply the rate used by the court to the value, as of the date of death as determined by the Bureau, of the property on which the allowance of the court is based; ...


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