§ 12 — Payment of tax out of capital, not income

Massachusetts § 12

• Jurisdiction: Massachusetts
• Part I: ADMINISTRATION OF THE GOVERNMENT
• Title IX: TAXATION
• Ch. 65: TAXATION OF LEGACIES AND SUCCESSIONS

Text

Section 12. All taxes under this chapter shall be paid out of and chargeable to capital and not income, unless otherwise provided in a will or codicil, or deed or other instrument creating the grant or gift; but this provision shall not affect any right of the commonwealth to collect such tax, or any lien therefor.