Legal Opinion
Colt Industries, Inc. v. New York City Department of Finance
New York Court of Appeals
Decided December 19, 1985PublishedCited by 27 opinions
1Opinion of the Court
OPINION OF THE COURT
Jasen, J.
The issue presented upon this appeal is whether the management fee imposed by petitioner upon its subsidiary corporations included interest income from subsidiary capital, and was to that extent excludable from entire net income for purposes of the New York City general corporation tax.
Petitioner, Colt Industries, Inc., a Pennsylvania corporation with its headquarters in New York City, is the successor in interest by merger to Colt Industries, Inc., a Delaware corporation, which was the taxpayer during the years in issue.1 Colt was both a managing company and a…
2Cases cited4 opinions
- Howard v. WymanNew York Court of Appeals · 1971
- Kurcsics v. Merchants Mutual InsuranceNew York Court of Appeals · 1980
- Mobil Oil Corp. v. Finance AdministratorNew York Court of Appeals · 1983
- Colt Industries, Inc. v. New York City Department FinanceAppellate Division of the Supreme Court of the State of New York · 1985
3Cited by27 opinions
- Salvati v. EimickeNew York Court of Appeals · 1988
- Ansonia Residents Ass'n v. New York State Division of Housing & Community RenewalNew York Court of Appeals · 1989
- New York State Ass'n of Life Underwriters, Inc. v. New York State Banking DepartmentNew York Court of Appeals · 1994
- 300 West 49th Street Associates v. New York State Division of HousingAppellate Division of the Supreme Court of the State of New York · 1995
- In Re St. Johnsbury Trucking Co. Inc.United States Bankruptcy Court, S.D. New York · 1997
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