Honorable Ernest Tibbets
Cbuntg'Attorney
HaIe County -
Plainview,
_ Texas
Dear Sir: Opinion No. O-4122 .-.' -. .'_.
,..
Re: Whether a temporary a&ninlstra-
tor imastpay the Fax'aiid'afflx
the stamps provided for in. -~.
Article XV of House Bill 8, 47th
.~ Legislature. ..-...~ _,.
We acknowledge receipt of your request for an opinion
of this Department-on whether OF not-the tax acQuirea bji-'A&lb-le
XV of House Bill 8, 47th‘~Leglslatizre,
must be pal.aon ti%inWfers
OTTstock by‘.atemporary administrator to the heirs at law and
the stamps affixed thereto. .
Article XV, supra, provides
i that: _ .
"There Is hereby Imposed-'andlevied a-'tax.
. . . on . . . deliveries or transfers of'shares,
or certificates of stock, oi'certlflcates for
rights tb stock, or certificates of deposit repre-
senting-fanInterest in or representing certlfl-
cates made taxable under this Section In any domes-
tic or foreign corporation, . . .' (Underscoring
ours) .
And said Article XV further provides that:
rr
a . 0 It shall be the duty of the person or persons
makim. or effectuating the sale or transfer to pro-
cure, affix, and cancel the stamps and pay the tax
provided by this Article . . .' (Underscoring ours) _ -
It will be noted that the'above act Is not onIy a tax
onthe sales of stock, etc., but Is also a tax on the transfer
of-.stock. ,The purpose of the act manifestly being to tax all
transactions wherein the ownership of stock is cha,nged.
While It-is true that the-'tltle.tothe'stock-Is vested
in the heirs immediately upon the death of the decedent, ~'(Smith
vs. Price, 230 S. W. 836) the delivery or transfer of the stock
.
Hon. Ernest Tlbbets, page 2 o-43.22
.~ .,
or stbbk certificates,nuaptbe'effectuatea by some means. In
this case the administrator malces tne transrer.
You are, therefore, advl'secl
that unde? Artlcle'XV,
siiprB,It Is the dutjiof the temporery administrator to j%y the
tax and affix the
_ stamps an the stockycertlflcates he transfers.
_. . .~.
a-'
: .' _ " Trusting that the foregoing fully answers your ln-
quirg, we are
Yours very truly
ATTORNEY GENEFUL OF TEXAS
By s/RlChWd H. Cock&
Ritih&M H. Cocke
Assistant
RHC:N:wc
APPROVXD OCT 23; 1941
s/Grover Sellers
FIRSTASSISTANT
ATTORNEYGENERAL _. _.
Approved Opinion Committee By s/&lB Chairman