Legal Opinion
Avon Products, Inc. v. State Tax Commission
Appellate Division of the Supreme Court of the State of New York
Decided December 30, 1982PublishedCited by 9 opinions
1Opinion of the Court
OPINION OF THE COURT
Mikoll, J.
In 1971 and 1972 petitioner made various investments including the purchase of bankers’ acceptances issued by foreign banks. The income therefrom was reported as investment income for franchise tax purposes. New York tax authorities determined that this income constituted income from business capital rather than investment capital and found petitioner liable for additional franchise taxes for the years in question. In denying petitioner’s claims for refunds, respondent held that income from bankers’ acceptances should be treated as income from business capital in…
2Cases cited3 opinions
- United Housing Foundation, Inc. v. FormanSupreme Court of the United States · 1975
- MATTER OF MANHATTAN CABLE TV SERVS., DIV. OF STERLING INFO. SERVS., INC. v. FreybergNew York Court of Appeals · 1980
- International Harvester Co. v. State Tax CommissionAppellate Division of the Supreme Court of the State of New York · 1977
3Cited by9 opinions
- All Seasons Resorts, Inc. v. AbramsNew York Court of Appeals · 1986
- Carpenter Technology Corp. v. Commissioner of Taxation & FinanceAppellate Division of the Supreme Court of the State of New York · 2002
- Mobil International Finance Corp. v. New York State Tax CommissionAppellate Division of the Supreme Court of the State of New York · 1986
- Custom Shop Fifth Avenue Corp. v. Tax Appeals TribunalAppellate Division of the Supreme Court of the State of New York · 1993
- Pohatcong Investors, Inc. v. Commissioner of Taxation & FinanceAppellate Division of the Supreme Court of the State of New York · 1989
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