Smoyer v. Taxation Division Director

LASSER, P. J. T. C.

This case involves cross-motions for summary judgment with respect to a 1977 tax deficiency assessment imposed by the Director of the Division of Taxation under the New Jersey Gross Income Tax Act, N.J.S.A. 54A:1-1 et seq. At issue is the taxability of a deferred compensation installment payment received after July 1, 1976, the effective date of the act, by taxpayer Stanley Smoyer who had retired prior to the effective date of the act.

The following facts are not in dispute and have been stipulated. Taxpayer was an employee of Johnson & Johnson, a New Jersey corporation.…