Muenter v. Union Trust Co.
Citations
- 195 F. 480
- 115 C.C.A. 390
- 1912 U.S. App. LEXIS 1402
Syllabus
<p>Internal Revenue (§ 8*)—Legacy Taxes—Vested Interest.</p> <p>A legacy in trust to a trustee, who is to pay the net income to the legatee for a term of years until distribution, creates a vested, interest in the beneficiary in such income for the term, which is assessable under War Revenue Act June 13, 1898, c. 448, § 29, 30 Stat. 464, as amended by Act March 2, 1901, c. 806, § 10, 31 Stat. 946 (U. S. Comp. St. 1901, p. 2307), and supplemented by Act June 27, 1902, c. 1160, § 3, 32 Stat. 406 (U. S. Comp. St. Supp. 1911, p. 9S3), if it became vested before July 1, 1902, and amounted to $10,000.</p> <p>[Ed. Note.—For other cases, see Internal Revenue, Cent. Dig. §§ 11, 12; Dee. Dig. § 8.*</p> <p>Internal revenue tax oii legacies, inheritance and transfers, see note to Ward v. Sage, 108 C. C. A. 417.]</p>
How courts have described this case
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- noting that in certifying class court will closely scrutinize course of litigation and if necessary will exercise its powers under Rule 23 to make any additional orders which may be necessary
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Judges: Gilbert
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