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The Laws of New York
Consolidated Laws of New York
CHAPTER 60
Tax
ARTICLE 12
Tax On Transfers of Stock and Other Corporate Certificates
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SECTION 270
Amount of tax
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ARTICLE 12
Tax On Transfers of Stock and Other Corporate Certificates
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SECTION 270-C
Transfers by operation of law; special exemptions
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SECTION 270-B
Exemption of certain transfers to legatees and others
Tax (TAX) CHAPTER 60, ARTICLE 12
§ 270-b. Exemption of certain transfers to legatees and others. The
tax imposed by sections two hundred seventy and two hundred seventy-a of
this chapter shall not be imposed upon any deliveries or transfers by an
executor or administrator to a legatee, heir or distributee of shares or
certificates of stock if it is shown to the satisfaction of the tax
commission that the value of such shares or certificates is not greater
than the amount of the tax that would otherwise be imposed on such
delivery or transfer.