Edenborn, in 1909, named the town Sorrento after Sorrento, Italy where it is claimed he took his young bride for their honeymoon. The first postmaster of the town of Sorrento was Willie Everrett, followed by Joe Gravois in 1915 and Sidney Chauvin in 1925.
Annualization of Income: In order to annualize a taxpayer's income, you may use the income realized by the decedent, divided by the number of days or months the taxpayer lived and multiplied by 365 days or 12 months.
The income tax deduction for estate tax in a decedent personâs gross estate is computed on the basis of the net value of all items of income in respect of the decedent. Income tax is found by adding up the items and subtracting all allowable deductions.here property was sold by a decedent before his death but the gain is recognized by the heirs for income tax purposes as income in respect of a decedent, or where a dividend was payable before the decedentâs death but not paid until after his death, the recipient of the income is allowed a deduction for the estate tax.