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The Corporation Directory is a directory of corporations organized in the United
States or Canada and whose stock is either listed on any stock exchange or is widely held.
Its primary purpose is to facilitate the task of transferring stock by making available the
name of the transfer agent for each of the listed companies. It also provides other
information of value to persons seeking to transfer stock. It sets out par values and classes
of stock, thereby facilitating the computation of stock transfer taxes.
TRANSFERS OF STOCK OF DECEDENTS
The transfer of stock from the name of a decedent or from a trust created by him
during his lifetime presents special problems. Before the transfer agent can make the
necessary transfers on the books of the corporation, he must be certain of the authority of
the person making the transfer. He must also be certain that the person making the
transfer has complied with the inheritance, estate or succession duty requirements of the
jurisdictions which might have a taxing interest in the stock being transferred. How these
various requirements may be determined is discussed below.
WAIVER REQUIREMENTS IN GENERAL
Waiver statutes are designed to assist state officials in the administration of a state's
death tax laws by calling to their attention circumstances which may call for the payment
of a tax. Such statutes in themselves are in no way determinative of tax liability, except
insofar as they may prescribe penalties for failure to obtain a waiver. It is possible then,
that a death tax waiver may be required even though it is obvious for one reason or
another that no tax is due. Therefore, waiver statutes generally should be construed
independently of death tax statutes which may seem to exempt or otherwise not call for
the payment of a tax in a particular situati