U.S. Radiator Co. v. . State of New York
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme Court in the third judicial department, entered July 15, 1912, which affirmed a judgment of the Court of Claims dismissing the plaintiff’s claim. The nature of the claim and the facts, so far as material, are stated in the opinion. The stock transfer stamp tax is not a tax upon property hut a tax upon the transaction known as the sale of capital stock.
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Appeal from a judgment of the Appellate Division of the Supreme Court in the third judicial department, entered July 15, 1912, which affirmed a judgment of the Court of Claims dismissing the plaintiff’s claim. The nature of the claim and the facts, so far as material, are stated in the opinion. The stock transfer stamp tax is not a tax upon property hut a tax upon the transaction known as the sale of capital stock. There must he a sale or agreement to sell in connection with a transfer or delivery of capital stock to make the transaction taxable, and it is the transaction of sale rather than…
1Opinion of the CourtCollin, J.
The action is to recover from the state of New York a sum paid by the plaintiff, under protest and without prejudice to its rights, for stock transfer stamps.
The facts were agreed upon by the parties for submission to the Court of Claims. The plaintiff, a corporation, purchased certain assets of each of four corporations. Under the contracts of purchase, each of the four corporations was entitled to a designated number of shares of the capital stock of the plaintiff as a consideration for the sale. Each of the four corporations and a trust company entered into a lawful voting trust agreement,…
2Cases cited15 opinions
- Gibbons v. MahonSupreme Court of the United States · 1890
- People Ex Rel. Hatch v. . ReardonNew York Court of Appeals · 1906
- Humphreys v. McKissockSupreme Court of the United States · 1891
- Plimpton v. . BigelowNew York Court of Appeals · 1883
- Christensen v. . EnoNew York Court of Appeals · 1887
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3Cited by53 opinions
- Tax Commissioner v. PutnamMassachusetts Supreme Judicial Court · 1917
- Holmes v. . CampNew York Court of Appeals · 1916
- Benincasa v. GarrubboAppellate Division of the Supreme Court of the State of New York · 1988
- Baillie v. Columbia Gold Mining Co.Oregon Supreme Court · 1917
- June M. Carlberg, by Vida M. Frick, Guardian v. United StatesCourt of Appeals for the Eighth Circuit · 1960
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