ALBANY, July 2---State Controller Sohmer will not take any steps looking to the appraisal of the estates of John Jacob Astor, Isidor Straus, and Benjamin Guggenheim, victims of the Titanic disaster, until the attorneys representing those estates show an inclination to invoke the law, which authorizes a discount of 5 per cent. if the transfer tax is paid within six months after the death of the decedent.
It is estimated that the State tax on the three estates will be between $5,000,000 and $6,000,000. It was stated to-day that no intimation has yet been received that the tax will be paid within the six months, although this period does not expire until next October. It is usual for those interested in large estates to get this discount.
Although requests have been made by attorneys to be designated as special counsel to represent the State in appraising these estates, Controller Sohmer says he will not make such designations unless absolutely necessary.
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(1912) BIG ASTOR TAX FOR STATE New York Times (ref: #3717, accessed 22nd January 2017 10:38:40 AM) URL : https://www.encyclopedia-titanica.org/big-astor-tax-for-state.html
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Added to Encyclopedia Titanica Friday 10th September 2004, last updated Saturday 12th September 2015.