Mayor of Newark v. State Board of Equalization of Taxes
Supreme Court of New Jersey
On error to the Supreme Court, whose opinion is reported in 51 Vroom 258. By a supplement to the General Tax act of the state, approved May 11th, 1906 (Pamph.
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On error to the Supreme Court, whose opinion is reported in 51 Vroom 258. By a supplement to the General Tax act of the state, approved May 11th, 1906 (Pamph. L., p. 418), it is enacted that “Associations or corporations of this state whose business is that of the assurance on lives shall be assessed and taxed upon the full amount or value of their property (exclusive of real estate situate in this state, and exclusive of securities to the value of five hundred thousand dollars), deducting from such amount or value the amount of their debts and liabilities; to ascertain the said amount a…
1Opinion of the Court
The opinion of the court “was delivered by
Gtjmmkbe, Chief Justice.
The statement made by the Prudential Insurance Company of America to the taxing authorities of the city oí Newark shows that the sum of $14,(523,279.37 was apportioned by it to deferred dividend policies pursuant to the requirements of chapter 71 of the laws of 1907. Pamph. L., p. 132. The act referred to provides that “every domestic life insurance company doing business in this state, conducted on the mutual plan or in which policyholders are by the terms of their policies entitled to share in the profits or surplus shall, on…
2Cited by2 opinions
- Merchants' National Bank v. Dawson CountyMontana Supreme Court · 1933
- Grenewicz v. LighamNew Jersey Superior Court Appellate Division · 1955