Taxation of Estates and Inheritances

Archive Report

The principal issue presented to the Senate in dealing with estate taxes in the 1926 revenue bill is whether (1) the federal estate tax shall be retained in such form as to promote uniformity in state laws, while yielding the chief revenues from this source to the states, or (2) shall be immediately repealed, leaving this field of taxation at once to the states, without regard to the present lack of uniformity in their estate and inheritance tax laws.

The estate tax title of revenue bill, as framed by the Ways and Means Committee and passed by the House, is in conformity with the first proposition. By reducing the federal estate tax rates and largely increasing the credit to be allowed for taxes paid to ...

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