Evening Republican, Volume 21, Number 19, Rensselaer, Jasper County, 24 January 1917 — Estate Pays Inheritance Tax. [ARTICLE]

Estate Pays Inheritance Tax.

Attorney W. E. Harry, of Brook, was here yesterday conferring with County Assessor Thornton in reference to the inheritance tax due the state from the estate of Sylvester Coan; late of Forest, 111. The estate has in this county land to the value of $22,400. 'Less debts against' same of $4,826.16, also SIO,QOO exemption for the widow and $4,000 exemption on account of two other heirs, leave a balance of $3,574, on which the state receives one per cent, making $35.74. The estate will have to pay a penalty of 10 per cent for failing to report within the eighteen months required by law. Administrators should look after this matte» All estates settled within twelve months are allowed a discount of 5 per cent. From twelve to eighteen months there is no penalty and after eighteen months 10 per cent is added.