People ex rel. New York Central & Hudson River Railroad v. Gaus
New York Court of Appeals
Appeal from an order of the Appellate Division of the Supreme Court in the third judicial department, entered May 27, 1910, which confirmed a determination of the defendant in assessing a franchise tax against the relator for the year ending October 31, 1908. The facts, so far as material, are stated in the opinion.
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Appeal from an order of the Appellate Division of the Supreme Court in the third judicial department, entered May 27, 1910, which confirmed a determination of the defendant in assessing a franchise tax against the relator for the year ending October 31, 1908. The facts, so far as material, are stated in the opinion. Lawful computation and assessment of tax on capital stock increased within the year preceding that for which the tax is imposed should have regard to the portion of that year during which the increase stock was outstanding and be based upon its average amount for the period of…
1Opinion of the Court
Cullen, Ch. J.
The relator’s capital stock on November 1st, 1906, was $149,197,800. On the first of January following it was increased to $178,632,000, and remained at that sum until October 31st, 1907, the end of the tax year. Not all of the relator’s capital was engaged within this state, but there is no question as to the correctness of the apportionment made by the comptroller in'that respect. It is the increase of stock that has give rise to the dispute in this case. Two questions are presented: (1) The comptroller assessed the tax on the basis of the whole outstanding stock at the end of…
2Cases cited1 opinion
- People ex rel. Lincoln Trust Co. v. GlynnAppellate Division of the Supreme Court of the State of New York · 1909
3Cited by2 opinions
- New York v. JersawitSupreme Court of the United States · 1924
- State v. J. C. Maguire Construction Co.Montana Supreme Court · 1941