Chase Nat. Bank v. United States, 278 U.S. 327 (1929)
U.S. Supreme Court, (January 02, 1929)
Docket number: 77
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RSSU.S. Court of Appeals for the 5th Cir. - the First National Bank of Midland, Texas and Jewell Mathers, Co-Independent Executors and Co-Trustees of the Estate of Olen D. Mathers, Deceased, Plaintiffs-Appellants, v. United States of America, Defendant-Appellee., 423 F.2d 1286 (5th Cir. 1970) Texas and Jewell Mathers, Co-Independent Executors and Co-Trustees of the Estate of Olen D. Mathers, Deceased, Plaintiffs-Appellants, v. United States of America, Defendant-Appellee.
Constitution of the United States (Annotated) - Section 9: Powers Denied to Congress
U.S. Supreme Court CHASE NAT. BANK v. UNITED STATES, 278 U.S. 327 (1929)
[Page 278 U.S. 327, 339] the policies or their proceeds be taxed, they should not be included with the other property of the estate in determining the rate of the tax. As it is the termination of the power of disposition of the policies by decedent at death which operates as an effective transfer and is subjected to the tax, there can be no objection to measuring the tax or fixing its rate by including in the gross estate the value of the policies at the time of death, together with all the other interests of decedent transferred at his death. Stebbins v. Riley, , 45 S. Ct. 424, 44 A. L. R. 1454. The inclusion in the gross estate of gifts made in contemplation of death under section 402(c) has a like effect. Other objections to the operation of the statute are not discussed either because they are not of weight or are not presented by the certified facts. The questions propounded by the Court of Claims in form suggest that the tax is one imposed by the statute upon the policies. This we have shown is not the case. It is the transfer, which is a concomitant of the criteria laid down by the statute for imposing the tax, which is the subject of the tax. The tax is not on the policies, but we answer the questions as if inquiring about the true subject of the tax. Both questions are answered, No. Mr. Justice McREYNOLDS concurs in the result. Mr. Justice SUTHERLAND and Mr. Justice BUTLER dissent.