In re the Transfer Tax upon the Estate of McMullen

Headnote

Transfer tax — stock of foreign corporation owning real property within this state belonging to resident of foreign state but physically within this state at death of ownei-no transfer of property within this state.

Matter of McMullen, 199 App. Div. 393 , affirmed.

Appeal from an order of the Appellate Division of the Supreme Court in the first judicial department, entered January 13,1922, which reversed an order of the New York County Surrogate’s Court assessing a transfer tax upon the estate of Lena McMullen, deceased. Decedent died a resident of the state of Connecticut, leaving a will

probated in that state. At the time of her death she was the owner of 500 shares of the preferred stock of the Atlantic, Gulf and Pacific Company, a corporation organized under the laws of West Virginia which was engaged in the business of dredging, and owned real property within this state. The 500 shares were actually physically within the state of New York when the decedent died. The right to impose the tax in question is asserted under section 220 of the Transfer Tax Law, as amended by section 1, chapter 626 of the Laws of 1919.