Transfer and Business Tax

Donee can appoint only from a restricted or designated class of persons other than himself.

• General Power of Appointment

• Special Power of Appointment

• General power of Appointment

• Juridical power of appointment

Tax imposed on the privilege that a person is given in controlling to a certain extent

• Donor tax

• Tax liability

• Estate tax

• Gross income

Terms of enjoyment of the property may be altered, amended, revoked or terminated by the decedent.

• Revocable transfer

• Irrevocable transfer

• Transfer in contemplation of death

• Transfer under special power of appointment

Deed person with last will and testament

• Decedent

• Successor

• Testator

• Donee

Which of the following is not part of situs of tangible and intangible property?

• Receivables

• Shares of stock

• Bank deposits

• Investments

Proceedings in the absence of a last will and testament

• Intestate proceedings

• Estate proceedings

• Probate of proceedings

• Probate of will

Which of the following is not a kinds of will?

• Special will

• Ordinary will

• Attested will

• Holographic will

Process of transferring property, rights and obligations

• Succession

• Donation

• Judicial

• Concurring

Which among the choices is not part of justification of the imposition of estate tax?

• Ability to pay theory

• Benefit-received theory

• State partnership theory

• Life blood theory

With formalities and witnesses

• Notes

• Notarial

• Holographic

• Panoramic