N.Y. Tax Law § 270-b: Exemption of certain transfers to legatees and others

§ 270-b. Exemption of certain transfers to legatees and others. The

tax imposed by sections two hundred seventy and two hundred seventy-a of

this chapter shall not be imposed upon any deliveries or transfers by an

executor or administrator to a legatee, heir or distributee of shares or

certificates of stock if it is shown to the satisfaction of the tax

commission that the value of such shares or certificates is not greater

than the amount of the tax that would otherwise be imposed on such

delivery or transfer.