Evening Republican, Volume 18, Number 66, Rensselaer, Jasper County, 18 March 1914 — Inheritance Tax Brings Lots Of Money to New Tork State. [ARTICLE]

Inheritance Tax Brings Lots Of Money to New Tork State.

The inheritance tax laws of several stateswill bringin a dot of money as well as the income tax, which is a federal law. In New York state many very wealthy men have passed away during the past few years. The death of J. Pierpont Morgan brought $2,500,000 in tax to the state, while the Anthony N. Brady estate made an advance settlement of the inheritance tax before the estate was settled and paid $2,584,000 in taxes. In all last year New York state collected inheritance tax amounting to $12,724,236. Among the wealthy men to die recently are George W. Vanderbilt, George Westinghouse, John L. Oadwalader, J. Pierpont Morgan, Anthony N. Brady, Benjamin Altman, Charles E. Appleby, George A. Hearn, Henry M. Flagler, and Isaac V. Brokaw. There are a number of others in the “ordinary” millionaire class, having estates of from one to ten or twelve millions The inheritance tax is a very just one and the income tax is also, except that it should provide that a part of the tax collected on incomes remain in the state or county from which collected instead of all going to the federal government.