BELSER v. S.C. TAX COMMISSION

Messrs. Melton Belser, for petitioner, cite: Inheritance Tax Act of 1922 is prospective in its terms: Transfer on which tax is laid is at death: Gleason Otis Inher. Tax, 28, 29; 178 U.S. 41; 190 N.Y. 492; 196 Mass. 533; 147 N.Y., 69; 151 App. Div., 441; 83 App. Div., 381; 16 L.R.A. (N.S.), 329. Inheritance tax laws are construed as prospective unless it is declared to be retroactive: Gl. Otis, 56; 121 N.Y., 710; 72 Ohio St., 448; 26 R.C.L., 176; 44 L.R.A. (N.S.), 419; 17 L.R.A. (N.S.), 733; 26 Enc. L. (2nd Ed.), 693; 55 S.C. 302; 34 S.C. 468. Question as to whether Legislature can apply Act retroactively: 8 L.R.A. (N.S.), 1180; Gl. Otis 39, 40; 51 L.Ed. (U.S.), 310; 720 Ohio St. 448. Transfer of personal property by inheritance or will takes place at death: 1 Civ. Code 1912, Sec. 3555. Administrator holds personalty for payment of debts but as a trustee for that purpose:11 Enc. L. 986; 26 S.C. 30; 190 N.Y., 492; 190 Mass. 532. Act same as New York Statute: Gl. Otis, 733. Louisiana Act different: 8 L.R.A. (N.S.), 1180. Messrs. Samuel M. Wolfe, Attorney General; and J. Fraser Lyon, for the Tax Commission, cite: Succession to beneficial interest does not take place until actual transfer is made by the fiduciary:11 R.C.L. 152, Sec. 161; 1 Bail. L. 126; 58 S.C. 166; 40 S.E. 899; 15 L.Ed. 126; 75 Am. Dec. 559.